DA eyes ?50/kg cap on imported rice amid rising prices
MANILA – The Department of Agriculture (DA) is considering imposing a ₱50 per kilogram price cap on imported rice by the end of the month, pending a recommendation from the National Price Coordinating Council (NPCC).
Agriculture Secretary Francisco P. Tiu Laurel Jr. said the proposal will be submitted to Ferdinand Marcos Jr. for final approval.
“Hopefully by the end of the month,” Tiu Laurel said, noting that the measure aims to curb possible profiteering amid rising fuel costs linked to tensions in the Middle East.
Based on the DA’s price monitoring, premium imported rice in Metro Manila currently sells between ₱55 and ₱63 per kilo. Imported well-milled rice ranges from ₱45 to ₱49 per kilo, while regular-milled varieties are priced at ₱42 to ₱45.
Despite the planned cap on imported rice, Tiu Laurel said imposing a similar measure on locally produced rice is not advisable at this time due to the ongoing harvest season.
“It’s not wise to impose a price cap during peak harvest. With higher supply, prices are naturally easing,” he explained.
Local premium rice is currently priced between ₱51 and ₱60 per kilo, while well-milled and regular-milled rice are selling at around ₱45 and ₱40 per kilo, respectively.
The DA also assured the continued availability of more affordable rice options, including supplies priced at ₱48 and ₱45 per kilo, as well as the ongoing expansion of the government’s ₱20-per-kilo rice initiative under the Benteng Bigas Meron (BBM) Na program.
Tiu Laurel added that price controls on other agricultural commodities will depend on market conditions.
“If there is profiteering, we will step in. But if prices reflect fair value across the supply chain, there will be no need for a cap,” he said.
He also assured the public of stable supply for other food items such as chicken, pork, and fish throughout the summer season.
NPO News Team | Philippine News Agency - PR
