DA sets P58 MSRP for imported rice starting Jan 20

Starting January 20, the Department of Agriculture (DA) will implement a maximum suggested retail price (MSRP) of P58 per kilo for imported rice in Metro Manila.

Secretary Francisco Tiu Laurel announced that this decision was made after extensive consultations with importers and retailers to ensure fair pricing and business sustainability, expressing confidence in market cooperation during an ambush interview with the Department of Trade and Industry (DTI).

The DA will conduct monthly reviews of the MSRP for premium imported rice with no more than 5% broken grains, capping profit margins at P10 per kilo.

Retailers that exceed the MSRP will be required to justify their prices to authorities, as Laurel earlier said that imported rice with up to 25% broken grains should not exceed P50 per kilo.

The DA and DTI will recommend a price ceiling to President Ferdinand Marcos Jr. if prices remain excessively high, with strict penalties for violators.

To address the high prices, the DA is promoting cheaper alternatives such as Sulit Rice at P36 per kilo and Nutri Rice, and plans to open additional kiosks in public markets and train stations to distribute goods at fair prices.