DA plans to reduce imported rice price to P45/kilo

The Department of Agriculture (DA) plans to lower the maximum suggested retail price (MSRP) of imported rice to P45 per kilogram from P49, depending on global price trends and the strength of the peso. This potential reduction follows a previous MSRP of P58 set in February. Retailers exceeding the MSRP must justify their prices, as imported rice should not exceed P50 per kilogram for certain varieties. The peso has been stable around P57 to the dollar, and the DA noted that recent tariff reductions approved by President Ferdinand Marcos Jr. have contributed to lower rice prices. The budget for local rice farmers will remain unaffected.