MANILA, June 13 -- The prices of retail rice may dip further in the local markets with the target lowering of the maximum suggested retail price (MSRP) for rice and Rice For All (RFA) varieties, the Department of Agriculture (DA) said Friday.

The DA earlier announced the lowering of MSRP on 5 percent broken imported rice to PHP43/kg from the current PHP45/kg on July 1.

In an ambush interview, DA Secretary Francisco Tiu Laurel Jr. said they are also targeting to lower prices of RFA varieties next month.

"I expect na bumaba din ng isa hanggang dalawang piso ang retail price ng bigas (I expect a drop of about PHP1 to PHP2 per kg. in rice retail prices)," he said when asked what would be the possible effects of the DA's moves in July.

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