MSRP on imported rice having a positive effect on staple grain prices in local markets
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NewsTranscript
00:00Several consumers expressed positive reactions to the declining price of rice,
00:05which has not only become more affordable, but also maintained good quality.
00:09Currently, the maximum suggested retail price for rice is at 49 pesos per kilo,
00:16with further reductions expected by the end of March to 45 pesos per kilo
00:21due to falling global market prices.
00:23The price drop is being attributed to multiple factors,
00:27including the implementation of the MSRP and India's recent decisions
00:32to lift long-standing export restrictions on rice.