THE Department of Agriculture (DA) said on Tuesday that the maximum suggested retail price (MSRP) scheme on imported rice will take effect nationwide starting Feb. 15.
Assistant Secretary and Spokesperson Arnel V. de Mesa said at a briefing that the DA will also lower the MSRP on imported rice to P55 per kilo for rice with broken-grain content of 5%.
Mr. De Mesa said the DA plans to further slash the MSRP on imported grain in the coming weeks following a review.
In a separate statement, Agriculture Secretary Francisco P. Tiu Laurel, Jr. said that the MSRP on rice could be lowered to below P50 per kilo by early March.
“After this reduction, we plan to lower it further to P52 a kilo by mid-February and then at P49 per kilo two weeks after. This should reflect the lower global prices of rice and the reduced tariff,” Mr. Laurel added.
The MSRP on imported rice first took effect on Jan. 20 around Metro Manila. It was imposed after imported rice prices remained stubbornly elevated despite the reduction of the import duty for the grain, as well as the easing of global prices.
Executive Order No. 62 slashed tariffs on rice imports to 15% from 35% previously until 2028, it was issued by President Ferdinand R. Marcos, Jr. last year and took effect in July.
According to DA price monitors surveying Metro Manila markets, as of Feb. 1, a kilo of imported special rice sold for between P52 and P61 per kilo, compared with the P57 and P65 range a year earlier.
The price of imported premium rice stood at P51-P58 per kilo as of Feb. 1, easing from P54-P62 a year earlier.
On the other hand, imported well-milled rice is currently selling for between P40 and P52 per kilo, with imported regular-milled rice fetching P38-P48.
“The decision (to take the MSRP national) follows extensive consultations with rice industry stakeholders, including importers and retailers, to ensure that the price decrease will benefit consumers without negatively affecting the supply of rice,” the DA said. — Adrian H. Halili
