Imported Rice Price Drops to P45/Kilo Starting March 31 — DA

The Department of Agriculture (DA) announced that the maximum suggested retail price (MSRP) for imported rice will be lowered to ₱45 per kilo, starting March 31, 2025, as global rice prices continue to fall.

Agriculture Secretary Francisco Tiu Laurel Jr. confirmed the reduction from the current ₱49 per kilo, marking a ₱19 decrease from the initial ₱64 per kilo price before the MSRP was implemented in January.

Originally set at ₱58/kilo on January 20, the MSRP has been adjusted gradually in response to declining global rice prices, the reduction of rice import tariffs (from 35% to 15%), and a stronger peso. The DA emphasized that the MSRP is a non-coercive guideline aimed at aligning retail prices with market conditions.

Tiu Laurel noted that the global rice market saw a significant supply boost following India’s lifting of its export ban on non-basmati rice. This contributed to rice prices hitting their lowest levels in over two years, with some varieties now under $380 per metric ton.

In the Philippines, rice inflation dropped by -4.9% in February, a sharper decline from -2.3% in January, reflecting these global trends.

The DA assured that consultations with industry stakeholders guided the pricing decisions to ensure the rice industry remains stable and food security is protected. The Philippines continues to source most of its imported rice from Vietnam, where prices of high-quality varieties have dropped substantially since December.