Push Admin

Article (news)

Rice

Vivienne Gulla

ABS-CBN News

MANILA — The retail prices of rice are seen to drop to an average of P45 per kilo this July, upon the implementation of Executive Order 62, which reduces tariff on imported rice, according to House Speaker Martin Romualdez.<div><a href="https://news.abs-cbn.com/business/2024/6/23/agri-groups-to-file-petition-vs-rice-tariff-cut-1614">• Agri groups to file petition vs rice tariff cut</a></div>He issued the statement after meeting with officials of the Philippine Rice Industry Stakeholders Movement (PRISM) on Monday.PRISM estimates the lower rice tariff will reduce the price of regular-milled rice to P40-P43, the price of well-milled rice to P45-P46 per kilo, and the price of premium rice to P47-P50 per kilo. As of June 22, the Department of Agriculture’s Bantay Presyo monitoring in Metro Manila shows that the price of imported regular well-milled rice was at P48-P51, while the price of imported well-milled rice was at P52-P55. Imported premium and special rice range from P50-P65.EO 62, which brings down the tariff on imported rice from 35 percent to 15 percent, will take effect on July 6.“May range ‘yan eh. ‘Yung sinabi nating P45 kasi nasa gitna lang ‘yan po. Pero ‘yung direksyon ay talagang pababa nang pababa. I assure you. ‘Yun ang world market prices, at syempre naka-tuck on dyan ‘yung tariffs. Kasi habang bumababa ang base price ng world prices… the corresponding savings will be passed on to the consumers as committed by our friends from PRISM,” Romualdez told reporters.<div><a href="https://news.abs-cbn.com/video/business/01/23/24/industry-group-doubts-usda-forecast-on-ph-rice-imports">• Industry group says PH may not need to import as much rice as USDA forecast</a></div>&quot;Ito ay isa sa itutulong namin na maramdaman sa bawat merkado yung papasok na EO 62 at 15 percent tariff na maramdaman ng mamayang Pilipino,” PRISM Co-founder Orly Manuntag said.The House Speaker previously targeted to reduce the price of rice to below P30 per kilo in parts of the country this July. He said that for next month, only Kadiwa stores can offer that price for rice, but he is optimistic that the country can hit the target not later than next year.“Siguro by next year nandyan na tayo if not soon. But sa mga Kadiwa, that will soon be available as well. The DA is very very much on top of that. ‘Yung mga ina-announce na lang natin ay talagang sa lahat, pero sa mga Kadiwa stores, we are going to be hitting the P29 range very soon,” Romualdez said.House leaders and the National Food Authority, meanwhile, assured local farmers of continued support despite the lowering of rice tariff, which some farmers’ groups fear could trigger an influx of imported rice in the country.Meanwhile, Romualdez addressed photos circulating online showing packed rice with label &quot;Romualdez Rice&quot; allegedly being distributed.“We haven’t sanctioned that. That would be rectified. But the most important thing is we bring rice to every Filipino table at affordable prices,” Romualdez said.

The retail prices of rice are seen to drop to an average of P45 /kilo this July upon the implementation of Executive Order 62, which reduces tariff on imported rice.

The retail prices of rice are seen to drop to an average of P45 /kilo this July upon the implementation of Executive Order 62, which reduces tariff on imported rice.

Romualdez: Rice retail prices may decline to around P45/kilo in July

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Traffic

Manila

Horoscope

Business

Romualdez: Rice retail prices may decline to around P45/kilo in July

Vivienne Gulla,

ABS-CBN News

Published Jun 24, 2024 08:11 PM PHT

Read More:

House

Speaker

Martin Romualdez

rice

bigas

agri

agriculture

ANC

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.