Gov’t cuts imported rice max suggested retail price to P45
The Department of Agriculture (DA) announced a reduction in the maximum suggested retail price (MSRP) for imported rice from P49 to P45 per kilo, effective March 31. The move follows declining global rice prices, with Agriculture Secretary Francisco Tiu Laurel Jr. noting a P19/kg drop since the MSRP’s initial implementation in January.
The Department of Agriculture (DA) announced Wednesday the lowering of the maximum suggested retail price (MSRP) for imported rice to P45 from P49 a kilo effective March 31.
In a statement, 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.
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Source : Inquirer Net
