DA sets P49/kilo SRP for imported rice starting March 1

The Department of Agriculture (DA) will enforce a maximum suggested retail price (SRP) of P49 per kilo for imported rice starting March 1, initially in Metro Manila, Cebu, Metro Davao, Cagayan de Oro, Zamboanga, Calabarzon, and other key urban centers.

This price adjustment follows previous reductions, with the SRP having been P52 per kilo on February 15, P55 on February 5, and P58 on January 20.

Agriculture Secretary Francisco Tiu Laurel Jr. stated that the selective implementation is due to imported rice prices already being below the maximum SRP in many provincial areas, with the focus being on areas experiencing high retail prices.

A food security emergency and the maximum SRP became necessary as retail prices reached P64 per kilo despite a 20% tariff cut on imported grains.

The DA will review market data to determine if further price reductions are possible.

The landed cost of 5% broken imported rice decreased to $490 per metric ton on February 21, down from $550 per MT.

Meanwhile, retail prices of galunggong have reached as high as P400 per kilo compared to last month's P350 per kilo.

Secretary Laurel will also meet with stakeholders on March 6 to finalize a pork maximum SRP, which could be implemented on March 10.