The maximum suggested retail price (MSRP) for imported rice has been set at PhP45 per kilo, following a decline in global rice prices, Malacañang announced on Wednesday.
According to Presidential Communications Undersecretary and Palace Press Officer Claire Castro, the new MSRP reflects the continued decrease in global rice prices.
“The maximum suggested retail price for imported rice is now at PhP45 per kilo due to the ongoing drop in global rice prices,” Castro stated during a press briefing at Malacañang.
Castro further cited the Department of Agriculture (DA), which revealed that the introduction of the MSRP has resulted in a PhP19 reduction in the price of imported rice, down from PhP64 per kilo.
The Philippine Statistics Authority (PSA) has noted that the MSRP is a significant factor in reducing rice prices and helping to slow the country’s inflation rate.
“Lower rice prices have contributed to the deceleration of the inflation rate, which dropped to 2.1 percent in February from 2.9 percent in January,” Castro added.
The decision to implement the MSRP followed President Ferdinand R. Marcos Jr.’s approval in July 2024 to reduce rice tariffs from 35% to 15%, aimed at making rice more affordable for Filipinos.
