Agriculture Secretary Francisco P. Tiu Laurel Jr. said the government will not extend the P50 per kilogram price ceiling on imported 5% broken-grain rice, citing stable market prices. The announcement came after a surprise inspection by the Departments of Agriculture and Trade and Industry, as reported by BusinessWorld.
The price cap was introduced to keep retail prices of imported rice affordable. Recent inspections showed that rice prices have stabilized, making further intervention unnecessary. Secretary Tiu Laurel noted that the measure had achieved its objective and that market forces can now operate normally.
Rice remains a key staple in the Philippines, and the government continues to prioritize affordable food prices. The decision not to extend the cap reflects improving supply and easing price pressures. The agriculture department said it will keep monitoring the market to ensure that prices stay within reasonable levels for consumers.