MSRP on imported rice having a positive effect on staple grain prices in local markets

PTVPhilippines

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00:00Several consumers reacted positively to the declining price of rice, which has not only

00:05become more affordable, but was also of better quality.

00:09Currently, the maximum suggested retail price of rice is at Php 49 per kilo, with further

00:16reductions expected by the end of March to Php 45 per kilo due to falling global market

00:22prices.

00:23The price drop can be attributed to multiple factors, including the implementation of the

00:28MSRP and India's recent decision to lift longstanding export restrictions on rice.

00:35Meanwhile, the price of pork in local markets has been steadily declining since the implementation

00:40of the MSRP earlier this March.

00:43According to the latest price monitoring report from the Department of Agriculture, or DA,

00:48the price of Kasim now ranges from Php 350 to Php 360 per kilo, while Yempo is priced

00:55between Php 380 to Php 400 per kilo, with some markets already adhering to the Php 380 MSRP.

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