DEPARTMENT of Agriculture Secretary Francisco Tiu Laurel announced on Friday, January 10, that the maximum suggested retail price (MSRP) for imported rice would be set at P58 per kilo beginning January 20.
“This MSRP aims to strike a delicate balance between business sustainability and the welfare of consumers and farmers,” Tiu Laurel said.
”We must ensure the price of rice is fair and affordable even as we make sure that the rice industry remains profitable. We cannot allow the greed of a few to jeopardize the well-being of an entire nation,” Tiu Laurel added.
According to Tiu Laurel, the MSRP will be implemented initially in Metro Manila.
The enforcement will be reviewed every month to take into account several factors, including the global price of the grain, he said.
DA expands footprint of P40/kilo rice to more markets, train stations
“We think that if the current direction of global prices holds, the MSRP will be lower after the review,” Tiu Laurel said.
The price was determined after having extensive consultations with importers, retailers, rice industry stakeholders, government agencies, and law enforcement bodies, the DA chief said.
The DA stated that the rice import volume had reached a record of 4.7 million metric tons in 2024 as falling prices and lower tariff created a disincentive for smugglers. This allowed the market to accurately reflect the volume of rice imported into the country.
The DA earlier said it has been planning to implement MSRP for imported rice to address the issue of alleged profiteering.
Tiu Laurel already tasked Food Terminals Inc. (FTI), a government corporation under the DA, to begin selling rice through KADIWA ng Pangulo centers and kiosks.
The rice options include 5% broken (RFA5) at P45 per kilo, 25% broken (RFA25) at P40, and 100% broken (RFA100), also known as Sulit Rice, at P36 per kilo.
Moreover, the rice, which has been stored by the National Food Authority (NFA) for at least two months, will be made available for resale to local government units in Metro Manila at P38 per kilo.
“This initiative will help the NFA clear its warehouses in preparation for the upcoming harvest season,” Tiu Laurel said. (GMA Integrated News)
