The Department of Agriculture (DA) is confident that the maximum suggested retail price (MSRP) for imported rice will be reduced in the coming weeks.
Agriculture Secretary Francisco Tiu Laurel Jr. stated that once rice prices stabilize in the global market, the price could drop to P50 per kilo.
However, the secretary clarified that the MSRP does not include specialty rice varieties such as Japanese Black Rice, Red Rice, Basmati rice, sticky rice, or locally harvested rice.
Laurel revealed plans to lower the price of imported rice to P55.00 per kilo by February 5.
A further price reduction to P52.00 per kilo is expected by February 15.
Should global rice prices remain favorable, the MSRP for imported rice could be lowered to P49.00 per kilo as early as March.