The imported premium rice price drop to ₱45 per kilogram is being considered by the Department of Agriculture (DA) by the end of March.
Agriculture Secretary Francisco Tiu Laurel Jr. stated that global rice prices are currently declining, and the Philippine peso is strengthening, leading to expectations that the trend will continue.
He explained that if world prices keep falling, the cost of imported premium rice could be reduced further from the current ₱49 per kilogram.
The secretary also announced that due to these factors, a maximum suggested retail price (MSRP) of ₱45 per kilogram may be set for imported premium rice by March 31.
Meanwhile, the distribution of buffer stocks from the National Food Authority (NFA) is ongoing as part of the government’s declared food security emergency for rice.