The Daily Tribune
DA targets P45 per kilo rice
The Department of Agriculture (DA) is considering lowering the maximum suggested retail price (MSRP) for imported rice to P45 per kilogram by March 31, 2025, as global prices soften and the Philippine peso strengthens.
Agriculture Secretary Francisco Tiu Laurel Jr. stated that this potential reduction would be from the current MSRP of P49 per kilogram, a decrease from the initial P58 per kilogram in early February.
The DA estimates that the maximum SRP has already led to a P15 per kilogram price drop for imported rice, with some varieties now retailing below P64 per kilo.
The Philippine Statistics Authority recognized the MSRP as a crucial factor in bringing down rice prices and helping to tame inflation.
Recent DA price monitoring indicated that imported rice prices in Metro Manila ranged from P41.13 to P57.57 per kilogram between March 3 and March 8, 2025.
The Philippine peso has been trading around P57 to $1 for most of March, closing at P57.251 to $1 on Friday, March 14.
This initiative follows President Ferdinand "Bongbong" Marcos Jr.'s approval of a tariff reduction on rice from 35% to 15% starting July 2024, which the DA attributes to bringing prices to their lowest in over two years.
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