Manila: The Department of Agriculture (DA) has announced that the maximum suggested retail price (MSRP) for imported rice with 5 percent broken grains will remain at PHP43 per kilogram despite an impending 60-day ban on rice imports.

According to Philippines News Agency, Agriculture Secretary Francisco Tiu Laurel Jr. stated that the MSRP would be maintained throughout the import suspension period, which is intended to prevent unscrupulous traders from exploiting consumers. Tiu Laurel emphasized the DA’s commitment to closely monitoring supply and market dynamics among retailers, wholesalers, and importers to ensure market discipline is upheld.

The DA’s Bantay Presyo monitoring, as of August 13, indicated that the price per kilogram of premium imported rice in Metro Manila ranged from PHP42 to PHP48, while local premium rice was priced between PHP42 and PHP60. Tiu Laurel also mentioned that the suspension period could be adjusted based on retail rice price trends and the results of the wet harvest season.

The decision to implement the rice import ban from September to October was approved earlier by President Ferdinand R. Marcos Jr., following the agency’s recommendation due to the high volume of rice stock inventory in the country. Specialty rice varieties such as Japanese, black, and basmati rice are exempted from the ban. The initiative aims to protect local farmers from a potential drop in farmgate prices during the wet harvest peak in October.

The Bureau of Plant Industry reported that, as of August 7, rice imports had reached 2.58 million metric tons.