By GMA Integrated News

The Department of Agriculture (DA) is looking at bringing down the maximum suggested retail price (MSRP) of imported rice by another P4 per kilo by the end of the month, should the global prices continue to go down and the Philippine peso appreciates further.

According to the DA, Agriculture Secretary Francisco Tiu Laurel Jr. is looking at bringing down the MSRP for imported rice to P45 per kilogram from the current P49 per kilogram, after the MSRP initiative debuted at P58 per kilogram in February.

“If the current trend in world rice prices persists and the peso remains strong, we might lower MSRP for imported rice to around P45 per kilo by March 31,” he said in a statement Sunday.

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

Latest data from the DA price monitoring shows that imported rice in Metro Manila ranged from P41.13 to P57.57 per kilogram from March 3 to March 8, 2025.

Meanwhile, the peso has been trading at the P57:$1 level for most of March. It closed last Friday, March 14, at P57.251:$1.

The MSRP comes after President Ferdinand “Bongbong” Marcos Jr. earlier approved the reduction in rice tariffs to 15% from 35% starting July 2024. The DA said this has brought prices down to the lowest levels in over two years, with some rice varieties below $400 per metric ton.

In the same statement, Tiu Laurel assured that falling rice prices and lower tariffs would not impact the P30-billion annual budget allocated to the Rice Competitiveness Enhancement Fund (RCEF), which provides support to local rice farmers under the amended Rice Tariffication Law (RTL). —Jon Viktor Cabuenas/RF, GMA Integrated News

Published Date: March 16, 2025