Rice max SRP lowered to P43/K by July 16

MANILA, Philippines —The Department of Agriculture (DA) will implement a lower maximum suggested retail price (MSRP) for imported rice beginning July 16, reducing the price ceiling to P43 per kilo from the current P45.

Agriculture Secretary Francisco Tiu Laurel Jr. said the new MSRP will apply specifically to the five percent broken variety.

The DA initially intended to implement the adjustment on July 1 but deferred the move due to volatility in global commodity markets triggered by heightened tensions in the Middle East.

With a ceasefire now in place between Israel and Iran, the department said global conditions have stabilized enough to proceed with the planned price reduction.

The July 16 rollout follows Executive Order 62, which lowered rice import tariffs from 35 percent to 15 percent effective July 8, as part of the administration’s measures to make rice more accessible and address food inflation.

Meanwhile, Malacañang urged farmers yesterday to report traders who use the government’s P20-per-kilo rice program as an excuse to buy palay at unreasonably low prices.

Presidential Communications Secretary Claire Castro said that the National Food Authority buys palay from farmers without affecting prices so the program should not be taken advantage of by traders.

“Farmers who experience this kind of treatment from traders who want to buy palay at a very low price and who use the President’s program as an excuse should inform us, the DA, DILG (Department of the Interior and Local Government) and DOJ (Department of Justice) and we will file charges against abusive traders,” she said.

Speaker Martin Romualdez threw his full support behind the “Benteng Bigas, Meron Na” program yesterday, calling it a lifeline for ordinary Filipinos and a concrete sign that the government is listening and acting on the people’s needs. –  Alexis Romero, Jose Rodel Clapano