Agriculture Secretary Francisco P. Tiu Laurel, Jr. told reporters that the National Price Coordinating Council has backed the Department of Agriculture’s recommendation to extend the P50 per kilo price cap on imported 5% broken rice by 60 more days. He said the extension would be the last one, as reported by BusinessWorld. The measure now awaits approval from the President.
The price cap was initially imposed in September 2023 to stabilize rice prices amid high inflation and supply concerns. Extended twice before, the cap applies only to imported rice with 5% broken grains, aiming to make the staple more affordable for Filipino consumers while protecting local farmers.
Industry observers noted that while the price cap provides temporary relief to consumers, it could discourage imports and reduce market participation. The extension also raises questions about compliance and potential smuggling, as the government balances food affordability with long-term agricultural sustainability.