Philippine Agriculture Secretary Francisco Tiu Laurel Jr. announced that commercial rice prices are projected to decline to P49 per kilo by March 1st due to the arrival of new rice stocks from Vietnam, Myanmar, and Cambodia. The Department of Agriculture (DA) has collaborated with importers, traders, and retailers to achieve this price reduction. The current Manufacturer’s Suggested Retail Price (MSRP) is P55 per kilo, which will decrease to P52 by February 15th before reaching P49 by March 1st.
Charles DantesAgriculture Secretary Francisco Tiu Laurel Jr. on Monday said commercial rice prices in the Philippines are expected to decline to P49 per kilo by March 1 as new stocks arrive from Vietnam, Myanmar, and Cambodia.
Speaking at a Palace press briefing, Tiu Laurel said the Department of Agriculture had coordinated with rice importers, traders, and retailers to lower prices.The current Manufacturer’s Suggested Retail Price is P55 per kilo, which will drop to P52 by February 15 before reaching P49 by March 1. “Hopefully, they have already purchased new stocks from Vietnam, Myanmar, or Cambodia at lower prices… That’s why the MSRP by March 1 is P49,” Tiu Laurel said.
The price drop is attributed to traders and retailers responding to government efforts to curb excessive profits and align with global market rates. Meanwhile, the government is set to distribute rice stocks to local government units next week following the DA’s declaration of a food security emergency. More than 50 LGUs have expressed interest in procuring rice at lower prices under the emergency measure.
RICE PRICES AGRICULTURE PHILIPPINES GOVERNMENT FOOD SECURITY
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DA eyes P49 per kilo MSRP for imported rice by MarchLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Descendants of WWII Heroes Join Annual Freedom March to Commemorate Bataan Death MarchThe annual Freedom March, honoring the 83rd anniversary of the Battle of Bataan and the Bataan Death March, will take place on March 1-2, 2025. Descendants of Filipino and US veterans, alongside military personnel, government officials, and the public, will retrace the 160-kilometer historical route from Mariveles, Bataan to Capas, Tarlac. The march serves as a testament to the courage and sacrifice of the World War II heroes.
Read more »
'Mah coffee, McCafé': Brewing Gen Z’s perfect cup at P49McDonald’s Philippines, led by owner George Yang, is winning over Gen Z with its latest campaign, “Mah coffee, McCafé,” which highlights affordability without compromising quality.
Read more »
PeaceScapes: Reimagining the Value of Agriculture and Fisheries in Mindanao and SuluThis article advocates for a reevaluation of the vital role of agriculture and fisheries in the Philippine economy, particularly in the Mindanao and Sulu Archipelago. It highlights the need to protect and empower local communities, combat exploitation, and shift societal perceptions towards these essential professions.
Read more »
Zaldy Co removed as House appropriations panel chairmanPresidential son, Senior Deputy Majority Leader Ilocos Norte 1st district Rep. Sandro Marcos made the motion.
Read more »
Adverse weather condition causes ₱67 million damage to agricultureA COMBINATION of the intertropical convergence zone (ITCZ), shear line, and northeast monsoon of amihan has damaged P67.68 million worth of crops and infrastructures, Department of Agriculture (DA) said. The agency said in its latest bulletin that the weather disturbances displaced 1,887 farmers, with 3,692 hectares of farmland.
Read more »