THE Department of Agriculture will reduce on Wednesday, February 5, the maximum suggested retail price of imported rice to P55 per kilo, providing much-needed relief to consumers struggling with the high cost of the food staple. The MSRP was previously set at P58 per kilo.
Agriculture Secretary Francisco P. Tiu Laurel Jr. expects a further reduction of the MSRP in the coming weeks, possibly below P50 per kilo by early March. “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,” the DA chief added.
This price reduction comes amid efforts by the DA to stabilize rice prices and alleviate inflationary pressures on basic commodities. The decision 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’s move is seen as an important step in controlling food price inflation, particularly for rice, which is a staple food for millions of Filipinos. By lowering the cost, the government aims to make rice more affordable, particularly for lower-income households.
In addition to the price cut, the DA stressed that it will continue to monitor the rice supply and market conditions closely. The agency remains committed to ensuring the availability of rice at stable prices while supporting long-term food security and the growth of the local rice industry.
This initiative is part of the DA’s broader efforts to address the challenges posed by rising food costs and contribute to the overall economic stability of the country as it moves toward 2025.
