DA sets imported rice price cap at P58/kg
The government will impose a maximum suggested retail price (MSRP) for imported rice at P58 per kilo, with the country’s agriculture chief saying this would initially cover Metro Manila beginning Jan. 20.
Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. said the decision came following a series of “extensive consultations” with industry players, such as importers and retailers, and government agencies, as they tried to tame increasing rice prices despite President Marcos’ tariff cuts and drop in global prices.
He said the MSRP would be up for review every month to consider fresh factors affecting grain prices.
Reducing the set MSRP remains on the table, Tiu Laurel noted.
“We must ensure the price of rice is fair and affordable even as we make sure that the rice industry remains profitable. We cannot allow the greed of a few to jeopardize the well-being of an entire nation,” the official said in a statement on Friday.
“Based on our calculations, using data and profit margins provided by importers and retailers, imported 5 percent broken rice should not exceed P58 per kilo. For rice with a higher percentage of broken grains, the price should be much lower,” he added.
Trade chief Cristina Roque also vowed that her department would “help in the monitoring and enforcement of prices set by the DA.”
