DA TARGETS P49/KG MSRP FOR IMPORTED RICE BY MARCH


DA will gradually slash the maximum suggested retail price for imported rice in the coming weeks as it targets an MSRP of P49 per kilo by March (Photo courtesy of Rappler)
The Department of Agriculture (DA) is targeting to lower the maximum suggested retail price (MSRP) for imported rice to PH49 per kilo by March, citing the continued drop in world prices of imported grains.
Agriculture Secretary Tiu Laurel said the DA would initially set the MSRP for imported rice at P55 by February 5, then lowered it further to P52 by February 15.
“By March 1, hopefully, we will break P50 per kilo, with the MSRP at P49, as long as world prices remain as they are today—a maximum landed cost of USD530 to USD550 per metric ton for 5 percent broken rice.”
Laurel said the phased reduction allows for an orderly transition in the market and would prevent destabilizing the rice industry, ensuring businesses can adjust without significant disruption.
It added that by announcing the planned reductions of maximum SRP, they hope that industry players traders, retailers, wholesalers, and importers will have ample time to liquidate higher-priced stocks and renegotiate contracts with suppliers.
He then clarified that the government has no intention of destabilizing the rice industry, despite some stakeholders calling for a more immediate and substantial reduction.
President Ferdinand Marcos Jr. signed Executive Order No. 62 last June which slashed the import duty on imported rice to 15 percent from 35 percent until 2028 to help stabilize prices of various commodities. The MSRP excludes Japanese black rice, red rice, basmati, imported malagkit, and locally produced rice.
Based on DA’s monitoring, the retail price of imported special rice was still sold as high as P61 per kilo; imported premium rice up to P58 per kilo; imported well milled rice as high as P52 per kilo and imported regular rice as much as P48 per kilo.
Source: Philippine Daily Inquirer
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