By JON VIKTOR D. CABUENAS, GMA Integrated News

The Department of Agriculture (DA) on Tuesday announced a downward adjustment in the maximum suggested retail price (MSRP) for imported rice, as the agency seeks to reduce this even further moving forward.

According to DA assistant secertary Arnel de Mesa, the MSRP will be P55 per kilogram effective Wednesday, February 5, from the current P58 per kilo.

De Mesa, in a briefing in Quezon City, said that while the MSRP only caters to Metro Manila, this will be expanded to a nationwide coverage starting February 15.

“After this reduction, we plan to lower it further to P52 a kilo by mid-February and then at P49 per kilo two weeks after. This should reflect the lower global prices of rice and the reduced tariff,” Agriculture Secretary Francisco Tiu Laurel said in a separate statement.

This comes as President Ferdinand “Bongbong” Marcos Jr., under Executive Order 62, last year lowred tariff rates for rice to 15% until 2028 from 35% previously.

The DA earlier said it will conduct a monthly review of the MSRP of premium imported rice with no more than 5% broken grains, capping the profit margins of importers, traders, and retailers at P10 per kilo.

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

Latest data from the DA price monitoring shows that prices of imported commercial rice in Metro Manila range from P42.11 to P57.03 per kilogram as of February 1, 2025.

The agency last month said it is looking to bring down the MSRP to P49 by March, provided that world prices remain at a maximum landed cost of $530 to $550 per metric ton for 5% broken rice.

—VAL, GMA Integrated News

Published Date: February 4, 2025