The Department of Agriculture (DA) said the government’s price ceiling on 5% broken imported rice has contributed to lower retail prices and helped reduce inflation across the country.
The agency’s statement came after the Philippine Statistics Authority (PSA) reported that headline inflation eased to 6.4% in June, down from 6.8% in May, reflecting slower increases in the prices of basic goods and services.
Agriculture Secretary Francisco Tiu Laurel Jr. said the latest figures demonstrate the importance of keeping essential food items affordable, particularly for Filipino households with limited incomes.
“The latest inflation numbers show that keeping food affordable delivers real benefits to Filipino families, especially those who spend a large portion of their income on basic necessities.”
The PSA also reported that food inflation slowed to 5.4% from 5.8%, supported by more stable prices of rice and fish, as well as a sharper decline in meat prices. Rice inflation eased from 15.6% to 15%, while fish inflation dropped from 8.8% to 7.8%.
In light of the improving inflation figures, Tiu Laurel stressed the need to continue the government’s efforts to keep rice prices stable while ensuring the welfare of both consumers and farmers.
“We must continue ensuring adequate supply, efficient distribution, and reasonable prices, particularly for rice, so inflation remains manageable while consumers and farmers alike are protected.”
The Agriculture chief has recommended extending the rice price ceiling for another 60 days through the National Price Coordinating Council (NPCC). The existing order, which limits the retail price of 5% broken imported rice to ₱50 per kilogram, was introduced in May to help curb rising food prices.
Aside from the price cap, the DA has been working with importers and other industry stakeholders to reduce or temporarily suspend the arrival of 5% broken imported rice beginning this July.
The move is intended to give locally produced rice a better opportunity to compete in the domestic market.