THE government will impose a maximum suggested retail price (MSRP) of P58 per kilo for imported rice, starting January 20, the Department of Agriculture announced.
The price cap will initially cover the entire Metro Manila.
Agriculture Secretary Francisco Tiu Laurel Jr. stated that the decision followed extensive consultations with industry stakeholders, including importers, retailers, and government agencies.
The move aims to address rising rice prices despite recent tariff reductions.
The MSRP will be reviewed monthly to accommodate factors influencing grain prices, with potential reductions in the cap still under consideration.
“We must balance affordability for consumers and profitability for the rice industry. The well-being of the nation should not be compromised by the greed of a few,” Laurel emphasized in a Friday statement.
According to the DA’s calculations, the price of imported rice with 5 percent broken grains should not exceed PHP58 per kilo, while rice with higher broken grain percentages should cost significantly less.
Trade Secretary Cristina Roque assured support in monitoring and enforcing the price cap to ensure compliance.
This measure reflects the government’s commitment to stabilizing rice prices and ensuring fair access to this staple food for Filipino households.