DA to impose P45/kilo SRP on imported rice starting March 31

The Department of Agriculture (DA) will implement a maximum suggested retail price (MSRP) of P45 per kilo for imported rice starting March 31, 2025.

This new price reflects a P19 decrease from the imported rice's cost before the DA's initial MSRP implementation on January 20, 2025.

Agriculture Secretary Francisco Tiu Laurel, Jr. stated that imported rice was previously sold at P64 per kilo before the MSRP was imposed.

The DA initially set the imported rice MSRP at P58 per kilo on January 20, later lowering it to P55 on February 5, P52 on February 15, and P49 on March 1.

Global rice prices have fallen to their lowest in over two years, with some varieties now priced below $380 per metric ton, partly due to India lifting its ban on non-basmati white rice exports.

The Philippine Statistics Authority recognized the MSRP as a key factor in reducing rice prices and helping to tame inflation, with the March inflation print of 2.1 percent being unexpectedly lower than predicted.

Farmers have expressed concerns that the falling farmgate price of palay may worsen due to competition from cheaper imported rice.