Imported Rice Prices Set to Drop: Gov't Mulls SRP Reduction
2025-01-14
Inquirer
The Philippine government is considering reducing the maximum suggested retail price (SRP) for imported rice, following a sharp decline in global prices. If the downward trend continues, consumers can expect lower prices for imported rice. The Department of Agriculture is monitoring the situation, with officials citing the need to ensure affordable food prices for Filipinos. With the potential SRP reduction, the prices of imported rice may decrease, benefiting local consumers. The move aims to stabilize the market and provide relief to households affected by high food costs. Imported rice prices, SRP, and food security are expected to improve.