The implementation of Executive Order 62, which lowers the tariff on imported rice from 35% to 15%, is expected to decrease retail rice prices to an average of P45 per kilo starting July, House Speaker Martin Romualdez announced. This reduction follows a meeting with the Philippine Rice Industry Stakeholders Movement (PRISM), where new price ranges were discussed: regular-milled rice could drop to P40-P43 per kilo, well-milled rice to P45-P46, and premium varieties to P47-P50.
Current prices, according to the Department of Agriculture’s Bantay Presyo monitoring, show that imported well-milled rice ranges from P48-P51, with premium grades up to P65 per kilo. The new order is set to take effect on July 6.
“The direction is definitely downward. We are aligning with world market prices and the reduced tariffs,” Romualdez explained, ensuring that the savings will be passed on to consumers.
PRISM Co-founder Orly Manuntag highlighted the potential impact of the new policy, “EO 62 at the new 15% tariff will be felt in every market, benefiting the Filipino consumers.”
Romualdez also reiterated his goal to reduce rice prices below P30 per kilo at Kadiwa stores this July, with expectations to achieve this target nationwide by next year. Despite the benefits to consumers, the National Food Authority and House leaders assured local farmers of ongoing support amidst concerns about the increased rice imports.
Additionally, Romualdez addressed circulating images of “Romualdez Rice” being distributed, stating, “We haven’t sanctioned that. It will be rectified, but the main goal is to ensure affordable rice for every Filipino table.”
