2 days ago
MSRP on imported rice to stay even during 60-day import ban — DA
The Department of Agriculture's (DA) maximum suggested retail price (MSRP) for imported rice will remain in place even during the two-month suspension of rice importation ordered by President Ferdinand 'Bongbong' Marcos Jr., Agriculture Secretary Francisco Tiu Laurel Jr. said Thursday.
The MSRP for the 5% broken imported rice variety has been reduced to P43 per kilo from P45 per kilo last month.
'We will maintain the MSRP even during the two-month rice import ban,' Tiu Laurel said in a statement.
'Throughout the suspension, we will closely monitor supply and market dynamics—especially among retailers, wholesalers, and importers—and take appropriate action to uphold market discipline,' he added.
Marcos ordered the suspension of rice importation from September to October to stabilize palay prices, which have reportedly fallen to as low as P8 per kilo—far below production costs, even for the most efficient farmers, according to the DA.
The duration of the suspension may be shortened or extended depending on price movements and the outcome of the main harvest in the coming months.
Specialty rice varieties, such as Japanese, black, and basmati rice, will be exempt from the ban.
Data from the Bureau of Plant Industry showed that total imported rice arrivals between January and July reached 2,443,337.556 metric tons, with pending Sanitary and Phytosanitary Import Clearances (SPSICs) covering an estimated 300,000 metric tons.
The Philippines consumes roughly 9.8 kilos of rice per person per month (325.5 grams/day), according to the Philippine Statistics Authority (PSA).
Under the Rice Tariffication Law, the President has the authority to halt rice imports to safeguard local farmers and stabilize market prices.
Tiu Laurel said the DA remains prepared to adjust policies if supply tightens while ensuring that both farmers and consumers receive fair prices. —VBL, GMA Integrated News
