BY: JOSE ROBERT INVENTOR
The Department of Agriculture (DA) has lowered the maximum suggested retail price (MSRP) for imported rice to 45 pesos per kilo, a move that is expected to ease the burden on Filipino consumers.
The price cap, which took effect on March 31, will be in place for two months.
At the Baguio City Public Market, shoppers like Carina Rabosa noticed a slight drop in rice prices. “It went down a little,” she said, adding that even small savings matter for people like her who earn only 470 pesos a day as a saleslady.
Some rice retailers, speaking off-camera, confirmed the reduction in imported rice prices was due to compliance with the previous P49 MSRP. Meanwhile, local rice varieties are priced as low as 36 pesos per kilo.
Agriculture Secretary Francisco Tiu Laurel Jr. said the initial goal was to bring down the price further to 42 pesos, but current market conditions and the need to protect local farmers prevented this. “Traders bought palay at prices that won’t cause losses to farmers,” he explained.
Despite the new 45 pesos price cap, local retailers at the Baguio market have yet to fully comply just days after the policy took effect. The initial implementation of the MSRP began in January but was limited to Metro Manila.
Palace Press Officer Usec. Claire Castro explained that the price cap aligns with a tariff reduction from 35% to 15% on imported rice, which took effect in July 2024.
The DA clarified that the MSRP is not mandatory but serves to encourage further price reductions in response to falling global rice prices and reduced import tariffs.
