In a recent market inspection at the Mutya ng Pasig Mega Market in Pasig City, Agriculture Secretary Francisco Tiu Laurel Jr. announced that the maximum suggested retail price (MSRP) for imported rice, initially set at PHP58 per kilogram, is expected to decrease to PHP50/kg by March. This statement was made during a joint inspection with Department of Trade and Industry Secretary Cristina Roque on January 16, 2025. The MSRP, which will be implemented starting January 20 in Metro Manila, aims to curb profiteering and stabilize rice prices for consumers. Tiu Laurel emphasized that the MSRP is not fixed and will be subject to regular reviews and adjustments based on global rice prices. He outlined a plan to gradually reduce the price to PHP55 after two to three weeks, and further to PHP52 after another two weeks, with the possibility of reaching PHP50 if world prices continue to decline. This adjustment period is intended to allow importers and retailers time to renegotiate terms with the entire value chain. The Department of Agriculture had previously anticipated a lower MSRP due to falling global prices, particularly for Vietnamese rice. Tiu Laurel also mentioned that the implementation of the MSRP will include the use of rice labels in retail stores, indicating the origin, type, and other details of the rice. The labeling is expected to be completed by the first week of February, after which the MSRP will be set per type of rice.
Philippine Agriculture Department Aims to Lower Imported Rice Price to P50/kg by March
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