MSRP on imported premium rice lowered to P43/kg on July 16

Metro Manila, Philippines - The Department of Agriculture (DA) will further lower the maximum suggested retail price on imported premium to P43 per kilogram starting July 16.

The MSRP on imported premium rice was supposed to be reduced from P45 to that level on July 1 but was postponed due to the heightened volatility in global markets caused by the Israel-Iran conflict.

“Global rice prices have since declined, alongside softening oil prices,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a news release on Thursday, July 3.

“We are also seeing positive projections for record harvests from key producers like India, Pakistan, and Thailand. These developments could improve global supply and help pull prices further down,” Tiu Laurel added.

Meanwhile, the DA is finalizing its plans for the MSRP on imported pork. The agency is also studying to implement the price ceiling on imported chicken. Both local industries are hit with animal disease outbreaks.

“Ang measures na ito ay to moderate retail prices amid tight domestic meat supply,” Agriculture Spokesperson Arnel de Mesa told reporters. “So posibleng, ‘yung sa August ay imported pork and potentially for imported chicken by September.”