Philippines, Feb. 26 -- The Department of Agriculture (DA) on Wednesday announced the lowering of the maximum suggested retail price (MSRP) of 5 percent broken imported rice to PHP49/kg. starting March 1.

This came as the MSRP dropped to PHP52/kg. from PHP55/kg. on Feb. 15, with the original MSRP set at PHP58/kg. on Jan. 20, much lower than the PHP62/kg. to PHP64/kg. retail price for rice before the MSRP imposition.

"We will review the numbers in the coming days to determine if there's room to lower the MSRP further. As of now, there could be scope for additional reductions, but we'll have to see," DA Secretary Francisco Tiu Laurel Jr. said in a statement.

The Samahang Industriya ng Agrikultura (SINAG), meanwhile, lauded the DA for its...