BUSINESS
Advocates Philippines
Cheaper Rice Alert: Imported Rice To Drop To P49 Per Kilo In Metro Manila And Key Cities
Photo credit: DA
Great news for rice consumers. Starting March 1, the price of imported rice will go down to P49 per kilo, marking the first time in six weeks that the Maximum Suggested Retail Price (MSRP) has dipped below the P50 mark.
However, don’t expect this price cut to apply everywhere. Agriculture Secretary Francisco P. Tiu Laurel Jr. clarified that the Department of Agriculture (DA) will only enforce the new MSRP in Metro Manila and select urban areas, not nationwide.
“In many provincial areas, imported rice is already selling for less than the MSRP. That’s why we’re applying it more selectively,” he explained.
How Did We Get Here?
The DA introduced the MSRP on January 20, initially setting it at P58 per kilo as a non-coercive way to encourage lower prices. This was in response to global rice prices dropping and President Ferdinand Marcos Jr.’s decision to cut rice tariffs from 35% to 15% last July.
Since then, the MSRP has been adjusted gradually. Before this move, imported rice with 5% broken grains was being sold between P62 and P64 per kilo—so this latest cut is a welcome relief for many Filipinos.
More Price Drops Coming?
The DA is keeping an eye on global rice prices and might lower the MSRP even further if conditions remain favorable. As of February 21, the landed cost of 5% broken rice had already gone down to USD490 per metric ton, compared to the previous projection of USD550 per metric ton.
“We’ll review the numbers in the coming days to see if there’s room for more reductions,” Tiu Laurel said.
However, don’t expect this price cut to apply everywhere. Agriculture Secretary Francisco P. Tiu Laurel Jr. clarified that the Department of Agriculture (DA) will only enforce the new MSRP in Metro Manila and select urban areas, not nationwide.
“In many provincial areas, imported rice is already selling for less than the MSRP. That’s why we’re applying it more selectively,” he explained.
How Did We Get Here?
The DA introduced the MSRP on January 20, initially setting it at P58 per kilo as a non-coercive way to encourage lower prices. This was in response to global rice prices dropping and President Ferdinand Marcos Jr.’s decision to cut rice tariffs from 35% to 15% last July.
Since then, the MSRP has been adjusted gradually. Before this move, imported rice with 5% broken grains was being sold between P62 and P64 per kilo—so this latest cut is a welcome relief for many Filipinos.
More Price Drops Coming?
The DA is keeping an eye on global rice prices and might lower the MSRP even further if conditions remain favorable. As of February 21, the landed cost of 5% broken rice had already gone down to USD490 per metric ton, compared to the previous projection of USD550 per metric ton.
“We’ll review the numbers in the coming days to see if there’s room for more reductions,” Tiu Laurel said.
Feb 26, 2025
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