DA eyes to slash down MSRP on 5% broken imported rice by end-March
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NewsTranscript
00:00The Department of Agriculture, or DA, is planning to decrease the maximum suggested retail price of 5% broken imported rice by the end of March.
00:09Vel Custodio tells us more.
00:12Elsa, a Carindirga owner, is planning to adjust the price of rice surveys in her business following the falling price trend of rice since the implementation of the maximum suggested retail price.
00:2449 pesos per kilo. We will lower the price because we only sell 15 kilos. Maybe it will become 12 or 10 kilos.
00:33The Department of Agriculture plans to trim down the MSRP of 5% broken imported rice by the end of March.
00:40From the current 49 pesos, the MSRP will drop to 45 pesos per kilo.
00:45Although still not in effect, the price per kilo in Kamuning Public Market ranges from 45 to 49 pesos.
00:52While local milled rice costs 40 pesos per kilo.
00:55According to the DA, rice prices in the global market have dropped to their lowest in more than two years.
01:01The price of rice varieties fallen by close to 400 dollars or over 22,000 pesos per ton, and the landed cost of 5% broken imported rice is just 490 dollars or about 28,000 pesos.
01:14This is almost 11,500 pesos cheaper per ton compared to its price in November 2024.
01:20Meanwhile, the Agriculture Department appeals to grant authority to the NFA for a quicker rice release process.
01:26We have repeatedly appealed to our legislatures to return the power of the NFA, at least for the regulatory and market interventions.
01:38Like this, you need a declaration of emergency to continue buying rice and selling rice.
01:48Although the Kamuning has exempted NFA rice from sale restrictions, the DA reminds local government units it is prohibited to sell NFA rice at a lower or higher price than 33 pesos or give it away for free during the 45-day election campaign period.
02:03Vel Custodio, for the National TV Network, for a new and better Philippines.