Philippines : RICE MAX SRP
The Philippine government set the maximum suggested retail price (MSRP) for imported rice at ₱45/kg amid declining global prices. This marks a ₱19 drop from previous rates. The reduced tariff from 35% to 15%, approved by President Marcos Jr. in July 2024, also contributed. Lower rice prices helped bring inflation down to 2.1% in February from 2.9% in January.
THE maximum suggested retail price (MSRP) for imported rice is now at P45 per kilo, Malacañang said on Wednesday, noting the drop in global prices of the staple.
“Nasa P45 kada kilo ang maximum suggested retail price or MSRP ng imported rice kasunod ng patuloy na pagbaba ng global rice prices,” Presidential Communications Undersecretary and Palace Press Officer Claire Castro said during a Malacañang briefing.
Castro quoted the Department of Agriculture (DA) as saying that since the MSRP was implemented, there was a reduction of P19 from the price of imported rice, which previously sold at P64 per kilo.
She said th7 Statistics Authority (PSA) sees the MSRP as a big factor in reducing rice prices and slowing inflation.
The MSRP was implemented after President Ferdinand R. Marcos Jr. approved the reduction of rice tariffs from 35 percent to 15 percent in July 2024
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Source : Journal News
