MANILA, Philippines — The Philippine government has announced its decision to set a maximum suggested retail price of ₱58 per kilo for imported rice.
This initiative will be implemented in Metro Manila starting January 20, according to the Department of Agriculture, led by Secretary Francisco Tiu Laurel Jr.
This move by the government is designed to regulate and stabilize the market price for rice, ensuring affordability for consumers in Metro Manila.
The Department of Agriculture (DA) emphasized that the decision was not made lightly as it considered various economic factors and the needs of both consumers and rice traders.
The price cap will apply to various categories of imported rice, including regular, well-milled, premium, and special varieties.
Prior to this, the prices of imported rice ranged from ₱38 to ₱64 per kilo, varying by type and quality. By setting this maximum retail price, the government aims to prevent excessive pricing while ensuring a steady supply of rice in the market.
