DA: Imported rice price cap to remain from Sept. to Oct.
The maximum suggested retail price (MSRP) for imported rice will remain in effect from September through October when a government ban on importing the commodity is in effect, the Department of Agriculture (DA) said on Thursday.
Currently, the price cap on 5 percent broken imported rice is set at P43 per kilogram.
“We will maintain the MSRP even during the two-month rice import ban,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement.
“Throughout the suspension, we will closely monitor supply and market dynamics—especially among retailers, wholesalers and importers—and take appropriate action to uphold market discipline,” he added.
President Marcos earlier announced the suspension of rice imports from Sept. 1 to Oct. 31. It applies to regular milled and well-milled rice but exempts premium varieties like Japanese, black and basmati rice.
The temporary ban is aimed at stabilizing local prices of palay (unmilled rice) and protecting farmers from cheap foreign grains.
Possible adjustment
Tiu Laurel said the ban “may be shortened or extended” depending on price movements and the outcome of the main harvest in the coming months.
The DA announced last month that the MSRP for imported rice will be lowered from P45 to P43 per kg effective July 16 in response to declining global rice prices.
The MSRP was introduced by the government at the beginning of the year to lower rice retail prices. It was initially set at P58 per kg.
