DA cuts Rice-for-All, imported rice prices

The Department of Agriculture (DA) announced Tuesday that it will lower rice prices under the Kadiwa ng Pangulo’s Rice-for-All (RFA) program and for imported rice, following a drop in global rice prices and a rise in local harvests.

Agriculture Secretary Francisco Tiu Laurel Jr. said that starting Wednesday, RFA rice prices will decrease by P3. RFA5 rice will drop to P43 per kilo, RFA25 to P35 per kilo, and RFA100 to P33 per kilo.

The Kadiwa ng Pangulo program will also continue to provide rice at P29 per kilo for vulnerable groups, including senior citizens, persons with disabilities, solo parents, and individuals from indigent sectors.

Imported rice prices drop anew

The DA also announced it will lower the maximum suggested retail price (MSRP) for imported rice. Effective 15 February, the MSRP will decrease to P52 per kilo from P55 per kilo.

Earlier this month, the MSRP of imported rice was lowered from P58 to P55. This price is expected to be further reduced to P49 per kilo by 1 March.

Laurel said the gradual price reduction aims to mitigate potential market disruptions. He also noted that President Ferdinand “Bongbong” Marcos Jr.'s economic managers will soon review Executive Order 62 to assess whether rice tariffs need to be adjusted. He said he would recommend revising the current tariff level if retail prices of imported rice fall to between P42 and P45 per kilo.

Fair competition

The government also assured local farmers that the National Food Authority will procure palay from local farms at a price range of P21 to P23 per kilo, ensuring fair compensation for their harvests.

Laurel said the rice agency has sufficient funding to support farmers and maintain its mandated rice buffer stock, which is currently at 15 days of national consumption under the revised Rice Tariffication Law.

Pork MSRP under review

The DA is also considering implementing an MSRP on pork to address the excessive gap between farm-gate and retail prices. A decision on the possible imposition of an MSRP on pork is expected by the end of February.

“We are conducting a thorough analysis of the pork value chain,” the Agri chief said, adding that if profiteering emerges, the DA will not hesitate to institute an MSRP for pork.