DA floats possibility of MSRP increase of imported rice to P45/kilo

The Department of Agriculture on Thursday floated the possibility of increasing the maximum suggested retail price (MSRP) for imported rice to P45 per kilo. 

During a Palace press briefing, Agriculture Secretary Francisco Tiu Laurel Jr. explained that determining the MSRP would depend on other factors such as exchange rates and international prices.

''Sa ngayon, yes, 20% ang taripa na basically na-approve ng council for January 16 implementation. Ang MSRP natin for now sa imported rice is P43. But then, alam naman natin na nag-devalue tayo yesterday ‘no to 59.33, then kung ganiyan pa rin ang exchange rate by January 16 plus the 5% increase in ano, malamang mag-isyu tayo ng new MSRP na 45 pesos per kilo to address the reality,'' Tiu Laurel said. 

(Right now, yes, the 20% tariff rate was approved by the council for January 16 implementation. The MSRP, at present, for imported rice is P43. But then, we know that we devalued yesterday to 59.33 so if the exchange rate by January 16 is still the same, plus the 5% increase, maybe we will issue a new MSRP at P45 per kilo.) 

Tiu Laurel earlier said any adjustment to the MSRP would be considered after the implementation of a higher tariff on imported rice.

Rice import duties will be raised to 20% from the current 15% on January 16, 2025 to comply with regulatory and procedural requirements, he said.

After the rice importation ban ended on December 31, 2025, the government decided to allow the importation of an initial 500,000 metric tons of rice. 

The DA had said that of this figure, about 50,000 metric tons will be allocated to Food Terminals Inc.

During the harvest season starting around March, the National Food Authority plans to buy wet palay at P17 per kilo and dry palay at P21 per kilo. — RSJ, GMA Integrated News