The Department of Agriculture (DA) will slash the maximum suggested retail price of imported rice to P55 per kilo starting Wednesday, February 5, delivering much-needed relief to consumers grappling with the high cost of this essential staple. Previously set at P58 per kilo, this significant price cut marks a decisive move by the DA.
Agriculture Secretary Francisco Tiu Laurel Jr. projects an additional drop in the MSRP in the coming weeks, potentially plummeting below P50 per kilo by early March.
“Following this reduction, we plan to bring it down further to P52 a kilo by mid-February and eventually to P49 per kilo two weeks thereafter. This adjustment should reflect the reduced global prices of rice and lowered tariffs,” the DA chief emphasized.
This bold initiative comes amid intensified efforts by the DA to stabilize rice prices and mitigate inflationary pressures on essential commodities. The decision follows extensive consultations with rice industry stakeholders, including importers and retailers, to ensure that the price drop benefits consumers without disrupting the rice supply chain.
The DA’s decisive action is viewed as a critical step in controlling food price inflation, particularly for rice, which remains a staple for millions of Filipinos. By reducing the cost, the government aims to make rice more affordable, especially for lower-income households.
In addition to the price reduction, the DA reaffirmed its commitment to closely monitoring rice supply and market conditions. The agency remains dedicated to ensuring the availability of rice at stable prices while promoting long-term food security and fostering the growth of the local rice industry.
This initiative forms part of the DA’s broader strategy to tackle the challenges posed by escalating food costs and contribute to the overall economic stability of the country as it strides toward 2025.
