Roxas: The Department of Agriculture (DA) will likely maintain the PHP45 per kilogram maximum suggested retail price (MSRP) for 5 percent broken imported rice amid the ongoing Israel-Iran conflict. Agriculture Secretary Francisco Tiu Laurel Jr. indicated that the price cap might remain in place until the situation stabilizes.

According to Philippines News Agency, Laurel explained in an ambush interview during a National Food Authority warehouse inspection in Roxas, Isabela, that rising petroleum and freight costs have increased the landed cost of rice. This decision will also affect the prices of Rice for All (RFA) varieties sold in Kadiwa ng Pangulo centers and stalls. He mentioned that there are no immediate plans to raise the prices of RFA varieties by July.

Earlier, the agency had announced the possibility of a PHP1 to PHP2 decline in RFA variety prices and a drop to PHP43/kg for 5 percent broken imported rice, effective July 1, to help decelerate the inflation rate. Currently, RFA5 or 5 percent broken rice is sold at Kadiwa stores for PHP43/kg, RFA25 or 25 percent broken for PHP35/kg, and RFA100 or 100 percent broken for PHP33/kg.

Laurel also highlighted the impact of global oil prices and the depreciation of the peso against the U.S. dollar on the landed cost of imported rice. The local currency weakened from PHP55 to USD1 in May to PHP57.17 on Friday.