MSRP on imported premium rice at P45/kg starting March 31

Metro Manila, Philippines - The maximum suggested retail price (MSRP) on imported premium rice will be brought down to P45 per kilogram beginning March 31, the Department of Agriculture (DA) said.

In a statement on Wednesday, March 26, the DA made a further cut on the price ceiling as it saw a continued decline in global rice prices.

“At this level, the retail price of imported rice has now decreased by P19 per kilo compared to its price before we implemented the MSRP on January 20,” Agriculture Secretary Francisco Tiu Laurel Jr. was quoted as saying.

The MSRP on imported premium rice started at P58/kg on Jan. 20 before it was lowered to P49/kg on March 1.

“Prior to the MSRP reduction to P49 per kilo on March 1, the price of good-quality rice from Vietnam—those with 5 percent broken grains—had already decreased to $490 per metric ton, approximately $200 cheaper than in December. Vietnam is the Philippines’ main source of rice,” the DA said.

The agency said data from the Food Terminal Inc. showed that the landed cost of imported rice in March for the DT8 variety is P32/kg to P34/kg.

Pork MSRP

Meanwhile, Agriculture spokesperson Arnel de Mesa said more stakeholders have followed the maximum suggested price of P300/kilo for sabit-ulo.

Sabit-ulo refers to the pig carcass delivered to sellers, which they will cut up into portions each marked with corresponding prices.

De Mesa said the compliance rate of traders has increased from 3 percent to 25 percent.

“Habang tumataas ‘yong level of compliance sa sabit ulo, tataas din sa retail,” he said.

[Translation: As compliance goes up in sabit ulo, so will the retailers be.]

The DA has set the price ceiling for liempo (belly) at P380/kg, kasim (shoulder) and pigue (ham) at P350/kg. Around 31% of monitored Metro Manila retailers have followed the pork MSRP, De Mesa said.