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The Department of Agriculture said it will conduct monthly reviews of the maximum suggested retail price of P58 per kilo for premium imported rice, with the possibility of having this lowered by next month should global trends dictate any adjustments.In a statement released Sunday, the DA said it will conduct a monthly review of the MSRP of premium imported rice with no more than 5% broken grains, capping the profit margins of importers, traders, and retailers at P10 per kilo.
“Should rice prices remain excessively high, the DA and Department of Trade and Industry will recommend to President Ferdinand Marcos Jr. the imposition of a price ceiling, with strict penalties for violators,” the DA said.
Francisco Tiu Laurel Jr Rice Price Lower Tariff EO 62
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