Manila: The Department of Agriculture (DA) announced a reduction in the maximum suggested retail price (MSRP) of 5 percent broken imported rice to PHP49 per kilogram, effective from March 1.

According to Philippines News Agency, this adjustment follows a previous decrease to PHP52 per kilogram from PHP55 per kilogram on February 15, with the initial MSRP set at PHP58 per kilogram on January 20. This change marks a significant reduction from the retail price range of PHP62 to PHP64 per kilogram prior to the MSRP implementation.

DA Secretary Francisco Tiu Laurel Jr. stated, “We will review the numbers in the coming days to determine if there’s room to lower the MSRP further. As of now, there could be scope for additional reductions, but we’ll have to see.”

The move was welcomed by the Samahang Industriya ng Agrikultura (SINAG), which praised the DA’s efforts to reduce market prices. SINAG Executive Director Jayson Cainglet expressed optimism, noting, “Kaunti na lang (Just a little more), we would reach the ideal price of PHP40 to PHP45/kg of imported rice. At the current price of USD380 per metric ton (MT) of 5 percent broken Vietnam rice, imported rice should further go below PHP40/kg.”

Tiu Laurel also mentioned that the PHP49 per kilogram MSRP would be implemented selectively in Metro Manila and other urban centers, as prices in many provincial areas are already lower than the MSRP.

As of February 25, the price range for premium imported rice in Metro Manila is between PHP49 to PHP57 per kilogram, PHP43 to PHP46 per kilogram for imported well-milled, and PHP36 to PHP46 per kilogram for imported regular-milled, as reported by the DA Bantay Presyo (price watch).