The Philippine Statistics Authority (PSA) reports that the Maximum Suggested Retail Price (MSRP) on imported rice has successfully driven prices down this March, even lower than market and Bangko Sentral ng Pilipinas (BSP) expectations, benefiting consumers.
Despite the price drop, the rice industry remains stable, highlighting the effectiveness of the Department of Agriculture’s (DA) strategies in maintaining market balance.
Agriculture Secretary Francisco P. Tiu-Laurel Jr. stated that if global rice prices continue to decline and the peso strengthens, the MSRP could further decrease to ₱45 per kilo by March 31.
Currently set at ₱49 per kilo, the MSRP on imported rice provides relief for Filipino families facing economic challenges.