The Department of Agriculture (DA) will reduce the maximum suggested retail price (MSRP) of imported rice to ₱43 per kilo from the current ₱45, over one week after the plan was postponed due to tensions in the Middle East.

In two weeks, specifically on July 16, the new price cap on five percent broken rice—the most commonly consumed variety of imported rice—will officially take effect.

Last June 23, the DA announced that it is delaying the plan to lower the MSRP over the “heightened geopolitical risks” following the United States’ involvement in the conflict between Israel and Iran. Slashing the MSRP to ₱43 was planned to be implemented on July 1.

This renewed friction in the Middle East drove fuel prices up, leading to volatility in the global market.

Last week, fuel prices were increased on a staggered basis, with gasoline rising by ₱3.50 per liter, diesel by ₱5.20, and kerosene by ₱4.80.

The DA explained that rising oil prices equate to higher costs for transporting commodities such as rice, while also affecting agricultural inputs like fertilizers.

Natural gas—a key byproduct of oil refining—is essential for producing ammonia, a primary ingredient in nitrogen-based fertilizers.

However, following a ceasefire agreement between Israel and Iran, fuel prices have since rolled back, ultimately stabilizing the global market.

Agriculture Secretary Francisco Tiu Laurel said this coincided with the softening of global rice prices and positive projections for record harvests from major rice exporters such as India, Pakistan, and Thailand.

“These developments could improve global supply and help pull prices further down,” he said.

Implemented in January this year, the MSRP was the government’s response to soaring prices of the staple, ensuring the affordability of rice for consumers.

The price cap on imported rice was first set at ₱58 per kilo. It was then reduced to ₱55 on Feb. 5, ₱52 on Feb. 15, ₱49 on Feb. 26, ₱45 on March 31, and will soon stand at ₱43 per kilo.

Meanwhile, amid ongoing outbreaks of animal diseases that are causing high retail prices of pork and chicken, the agriculture department is expected to implement an MSRP on these livestock goods.

The DA is currently finalizing plans to introduce a process cap for imported pork in August and for chicken the following month.

The MSRP on locally produced pork was earlier rolled out by the agency to temper prices in wet markets, but it was then lifted because of low compliance among retailers.