DA to implement nationwide P55/kg price cap on imported rice starting Feb 15

The Department of Agriculture (DA) will implement a nationwide price cap on imported rice, with a maximum suggested retail price (MSRP) of P55 per kilogram, starting February 15.

This follows an earlier implementation of the MSRP scheme in Metro Manila around January 20, though many retailers have reportedly failed to comply with the P55 SRP.

The DA, however, will be lenient with retailers selling old stocks procured at higher prices and expects compliance once new rice supplies arrive.

The DA aims to further lower the MSRP on imported rice to P49 per kilo by March, reflecting lower global prices and reduced tariffs.

Agriculture Secretary Francisco Tiu Laurel Jr. issued the reduced max SRP after consultations with stakeholders, despite recent price increases in the country.

The DA declared a food security emergency for rice on February 3 and is coordinating with the Department of Trade and Industry to ensure compliance.