DA Cuts Imported Rice SRP to P55/Kilo

Beginning today, February 5, the Department of Agriculture (DA) will reduce the maximum suggested retail price (MSRP) for imported rice from P58 to P55 per kilogram.

“Starting tomorrow, the MSRP for 5% imported rice will now be sold at P55 per kilo,” said DA spokesman Arnel de Mesa in a press briefing on Tuesday, February 4.

“And then, by February 15, the MSRP will now be nationwide,” he added. The MSRP is only in effect in Metro Manila.

The MSRP was established by the agriculture department to lower the high prices of imported rice, even after the 35% tariff was reduced to 15%.

When the MSRP was first established, Agriculture Secretary Francisco Tiu Laurel Jr. stated that the goal was to eliminate imported rice that was being offered in the market for P60 per kilogram.

De Mesa stated that after periodic assessments, the government intends to further reduce the MSRP.

Two days after the DA declared a rice food security emergency to allow the NFA to release its rice buffer inventories, a reduced MSRP was implemented.

With current imported rice prices still ranging from P38 to P61 depending on the variety, the big question is: will this new MSRP finally bring some much-needed relief to Filipino consumers? We'll be keeping a close eye on the market to see if this translates to real savings at the grocery store. The rice crisis is far from over, but this could be a step in the right direction.