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Monday, Jun 09, 2025
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Philippines to Lower Maximum Retail Price of Imported Rice to P43
The Department of Agriculture's new price cut coincides with declining global rice prices and reduced tariffs.
The Department of Agriculture (DA) in the Philippines has announced plans to lower the maximum suggested retail price (SRP) of imported rice to P43 per kilogram, effective July 1. Agriculture Secretary Francisco Tiu Laurel Jr. indicated that this price adjustment is a response to a sustained decrease in global rice prices and a recent government initiative to reduce rice tariffs from 35 percent to 15 percent, beginning in July.
The DA first introduced the maximum SRP system in January 2025, after India lifted its export ban on non-basmati rice.
This change occurred alongside a decline in global demand attributed to the impacts of the El Niño phenomenon experienced in the previous year.
Initially, the SRP was set at P58 per kilogram for five percent broken imported rice but was gradually adjusted to P45 by the end of March.
Officials state that the introduction of the price ceiling has contributed to tempering inflation rates, which in turn has allowed for interest rate cuts aimed at stimulating economic activity and boosting employment.
Further modifications to rice pricing are anticipated under the DA’s Rice-for-All program, where five percent broken rice is currently available at P43 per kilogram.
Additional grades are priced at P35 for 25 percent broken and P33 for 100 percent broken.
Secretary Tiu Laurel defended the Rice-for-All program amid concerns about its feasibility, asserting that the program underwent extensive evaluation prior to its rollout.
This initiative is part of a broader P20 rice program introduced last month, which is projected to remain operational until December and aims to benefit as many as 14 million low-income and minimum-wage earners across the country.
In a related development, Speaker Martin Romualdez has tasked a team of budget and policy experts with evaluating the feasibility of making the P20-per-kilo rice program a permanent national initiative.
He indicated that the House is prepared to consider legislative measures to institutionalize the program, ensuring continued support for Filipino families.
President Marcos has directed the DA to uphold the P20 rice program for the duration of his presidency, which concludes in June 2028.
The DA first introduced the maximum SRP system in January 2025, after India lifted its export ban on non-basmati rice.
This change occurred alongside a decline in global demand attributed to the impacts of the El Niño phenomenon experienced in the previous year.
Initially, the SRP was set at P58 per kilogram for five percent broken imported rice but was gradually adjusted to P45 by the end of March.
Officials state that the introduction of the price ceiling has contributed to tempering inflation rates, which in turn has allowed for interest rate cuts aimed at stimulating economic activity and boosting employment.
Further modifications to rice pricing are anticipated under the DA’s Rice-for-All program, where five percent broken rice is currently available at P43 per kilogram.
Additional grades are priced at P35 for 25 percent broken and P33 for 100 percent broken.
Secretary Tiu Laurel defended the Rice-for-All program amid concerns about its feasibility, asserting that the program underwent extensive evaluation prior to its rollout.
This initiative is part of a broader P20 rice program introduced last month, which is projected to remain operational until December and aims to benefit as many as 14 million low-income and minimum-wage earners across the country.
In a related development, Speaker Martin Romualdez has tasked a team of budget and policy experts with evaluating the feasibility of making the P20-per-kilo rice program a permanent national initiative.
He indicated that the House is prepared to consider legislative measures to institutionalize the program, ensuring continued support for Filipino families.
President Marcos has directed the DA to uphold the P20 rice program for the duration of his presidency, which concludes in June 2028.
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