The maximum suggested retail price (MSRP) of five percent broken imported rice will first remain at ₱43 per kilo, according to the Department of Agriculture (DA) and Agriculture Secretary Francisco Tiu Laurel Jr.
The increase in the rice import tariff from 15% to 20% is expected to be implemented on January 16, once all regulatory and procedural requirements are completed. According to Tiu Laurel, the MSRP will only be reviewed once the higher tax becomes effective.
The decision aims to stabilize rice prices, following the four-month rice import moratorium ordered by President Marcos in September, to support farmgate prices during the peak wet-season harvest.
According to the DA, rice imports reached 4.8 million metric tons last year, which caused palay prices to drop to ₱8/kilo in some areas before the import ban.
After the implementation of the import freeze, the price of rice increased to approximately ₱17/kilo for wet rice and ₱23/kilo for dry rice in some regions. After the ban expires on December 31, the entry of 500,000 MT of rice will be allowed, of which 50,000 MT will be allocated to Food Terminals Inc.
