THE Department of Agriculture (DA) announced yesterday the lowering of the maximum suggested retail price (MSRP) for imported rice to P45 from P49 a kilo effective March 31.
The agency said the MSRP was reduced in response to the softening of global rice prices.
“At this level, the retail price of imported rice has now decreased by P19 per kilo compared to its price before we implemented the MSRP on January 20,” Agriculture Secretary Francisco Tiu Laurel Jr. said.
The DA first implemented the MSRP in January, as retail prices remained elevated despite slashing the tariff on imported rice to 15 percent and declining global prices.
The MSRP further dropped to P49 per kilo on March 1 from P52 per kilo in late February, with the original MSRP set at P58 per kilo on January 20, much lower than the P62 to P64 per kilo retail price for rice before the MSRP imposition.
The Samahang Industriya ng Agrikultura (SINAG) had earlier lauded the DA for its efforts to help drive down market prices.
“Kaunti na lang, we would reach the ideal price of P40 to PHP45 per kilogram of imported rice,” SINAG executive director Jayson Cainglet said. (Philippine Daily Inquirer )
Caption
A rice vendor waits for customers at his stall in Marikina Public Market. GRIG C. MONTEGRANDE PHOTO
