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The Department of Agriculture on Wednesday announced it is slashing further the maximum suggested retail price for imported rice in the coming month.“The maximum suggested retail price for imported rice will be lowered to P49 per kilo starting Saturday, March 1, marking the first time since the MSRP was introduced six weeks ago that it will slip below the P50 mark,” Agriculture Secretary Francisco Tiu Laurel Jr . said in a statement.
So we will apply it more selectively,” Tiu Laurel said.The DA first introduced the MSRP on January 20, setting an initial price of P58 per kilo.The imposition of an MSRP on imported rice is described by the DA as a “non-coercive” measure aimed at steering retail prices of imported rice to reflect the steady decline in world market prices and the decision of President Ferdinand Marcos Jr. to slash rice tariffs from 35% to 15%.
Rice Rice Prices Department Of Agriculture Francisco Tiu Laurel Jr
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