The Department of Agriculture (DA) will reduce on Wednesday, February 12, rice prices under the KADIWA ng Pangulo’s Rice-for-All (RFA) program. The price reduction reflects both the drop in global rice prices and an increase in domestic supply as the local harvest season gets underway.
Agriculture Secretary Francisco P. Tiu Laurel Jr. said RFA prices will be reduced by as much as P3 per kilo. Starting Wednesday, the agri chief said RFA5 rice will be priced at P43 per kilogram, RFA25 at P35, and RFA100 at P33.
At present, RFA5—comprising rice with no more than 5 percent broken grains—is sold at P45 per kilo, RFA25 at P38 a kilo, and RFA100 at P36 per kilo. The KADIWA ng Pangulo program will continue to provide rice at P29 per kilo for vulnerable groups such as senior citizens, persons with disabilities, solo parents, and individuals from indigent sectors.
Although international rice prices have eased, Tiu Laurel reassured local farmers that the National Food Authority (NFA) will procure palay from local farms from P21 to P23 per kilo, ensuring fair compensation for their harvests. He said the NFA has sufficient funding to support farmers and uphold its mandated rice buffer stock, now equivalent to 15 days of national consumption under the revised Rice Tariffication Law.
To further stabilize the rice market, Tiu Laurel said the maximum suggested retail price (MSRP) for imported rice and its coverage expanded nationwide. Beginning 15 February, the MSRP will be reduced to P52 per kilo from P55 a kilo, and cut further to P49 by 1 March. This gradual approach aims to mitigate potential market disruptions, he said.
The price reductions align with global trends in the rice market, as well as President Ferdinand Marcos Jr.’s decision in July to slash rice tariffs from 35 percent to 15 percent.
Tiu Laurel said economic managers of President Marcos’ will soon review Executive Order 62 to assess whether rice tariff needs to be adjusted. He said, however, that he is only inclined to recommend a revision of the current tariff if the retail price of imported rice eases to the P42 to P45 per kilo range.
Aside from rice, Tiu Laurel said the DA is also looking to implement the MSRP on pork to address the excessive gap between farm-gate and retail prices. He said retail pork prices at P400 per kilo or higher is “unreasonable.”
He said the decision possibly imposing the MSRP for pork is expected at the end of February to curb profiteering.
“We are conducting a thorough analysis of the pork value chain,” Tiu Laurel said. “If evidence of profiteering emerges, we will not hesitate to institute the MSRP for pork.”
The farm-gate price for hogs ranges from P240 to P250 per kilogram.
