In a significant move to stabilize rice prices, the Department of Agriculture (DA) reported on Monday that a majority of markets in Metro Manila are adhering to the newly implemented maximum suggested retail price (MSRP) of PHP58 per kilogram for 5 percent broken imported rice. This initiative, aimed at curbing profiteering and controlling escalating rice prices, has seen widespread compliance across the region.
During a morning inspection, DA spokesperson Arnel De Mesa expressed satisfaction with the compliance levels, noting that many markets are selling the rice at or below the set price. Observations showed prices as low as PHP51 and up to PHP57 per kilogram, well within the MSRP guidelines.
Out of the 21 markets inspected, 13 were found selling the 5 percent broken or premium imported rice at PHP58/kg or less. These markets include New Las Piñas City Public Market, New Marulas Public Market, Mandaluyong Public Market, Marikina Public Market, Maypajo Public Market, Mutya ng Pasig City Mega Market, Obrero Market, Malabon Central Market, Quinta Market, Pritil Market, Cartimar Market, Navotas Agora Market, and San Andres Market.
However, two markets, Guadalupe Commercial Complex and Pasay Public Market, were found selling the rice slightly above the MSRP, at PHP59 and PHP60 per kilogram respectively. Six other markets did not have the 5 percent broken imported rice available.
De Mesa also highlighted a general decline in the prices of imported rice, with special imported rice at PHP58/kg, premium at PHP55/kg, well-milled at PHP48/kg, and regular-milled at PHP40/kg. He attributed these price reductions to the government’s interventions.
For local commercial rice, prices range from PHP37/kg to PHP50/kg for regular-milled, PHP40/kg to PHP53/kg for well-milled, PHP48/kg to PHP58/kg for premium, and PHP55/kg to PHP63/kg for special local rice, according to the latest DA price monitoring data.