DA sets MSRP on imported rice at P55/kg

The maximum suggested retail price for imported rice is now at P55 per kilogram starting Feb. 15.

The Department of Agriculture said the MSRP would apply to imported rice with five percent brokens.

It is confident that come March the price cap would be lowered to P50 or below per kg. after two weeks. 

“This should reflect the lower global prices of rice and the reduced tariff,” said DA Secretary Francisco Tiu Laurel Jr.

The MSRP on imported rice first took effect on Jan. 20 around Metro Manila. It was imposed after imported rice prices remained stubbornly elevated despite the reduction of the import duty for the grain, as well as the easing of global prices, reported Business Mirror.

As of Feb. 1, DA monitored rice prices at P52 to P61 per kg, way below the year ago level of P57 and P65 per kg.

The price of imported premium rice stood at P51-P58 per kilo as of Feb. 1, easing from P54-P62 a year earlier.

Imported well-milled rice currently sells for between P40 and P52 per kilo, with imported regular-milled rice fetching P38-P48.

“The decision (to take the MSRP national) follows extensive consultations with rice industry stakeholders, including importers and retailers, to ensure that the price decrease will benefit consumers without negatively affecting the supply of rice,” the DA said.