As surging global oil prices driven by ongoing crisis in the Middle East that drive costs in the Philippines.
In a statement, the Department of Agriculture (DA) said that the National Price Coordinating Council NPCC has officially endorsed its recommendation to impose the P50 per kilo price ceiling on imported rice and is now awaiting the approval of President Ferdinand Marcos Jr.
The said measure, anchored on the Price Act and aligned with existing executive issuances said the DA, is designed as a “targeted intervention to temper price increases in the country’s most essential food staple while broader inflationary pressures persist amid the geopolitical tensions.”
It will cover imported rice with 5 percent broken grains and remain in effect for 30 days, especially important now as fuel costs have significantly increased transport and logistics expenses.
That has since cascaded into higher retail prices for basic commodities including rice—with these external shocks heightening concerns over affordability and supply stability.
The proposed cap, according to Agriculture Secretary Francisco Tiu Laurel Jr., will cover the imported rice that arrived in country prior to the start of the conflict on February 28 were bought at lower landed cost.
He earlier flagged imported rice prices beyond PHP50 a kilo—which is a price he considers fair given costs—are bordering on profiteering.
By limiting the measure to 30 days, the Agriculture department also said that policymakers appear to be signaling a stopgap approach.
Tiu Laurel underscored the broader context of the move. “With global oil shocks feeding into higher food prices, this measure delivers immediate relief to consumers while reinforcing the government’s commitment to keep rice accessible, affordable, and fairly priced,” he said.