Philippines May Lower Imported Rice Prices as Global Costs Decline

     MANILA, Philippines — The Philippine government is considering reducing the suggested retail price (SRP) for imported rice as global prices continue to decline, an official from the Department of Agriculture (DA) said Monday.

     According to DA Assistant Secretary Arnel de Mesa, international rice prices have been steadily dropping since the beginning of 2025, with a significant decline recorded in the first 10 trading days of the year. He noted that Vietnam, the country’s largest rice supplier, has seen a sharp decrease in its export prices. As of January 10, the price of 5-percent broken Vietnamese rice had fallen by 15 percent to $434 per metric ton, compared to $510 in December. Other varieties, such as 25-percent broken rice, have also become cheaper at $409 per metric ton, while 100-percent broken rice now costs $326 per metric ton.

     De Mesa attributed this decline to Vietnam’s upcoming harvest season, which is expected to increase supply and stabilize prices. He also pointed out that other major rice-exporting countries, including India and Thailand, have recorded price reductions, though not as substantial as Vietnam’s. If this downward trend continues, the Philippine government may lower the SRP for imported rice, particularly for 5-percent and 25-percent broken varieties, to reflect the global market changes.

     To help manage local rice prices, the government recently set a maximum SRP of ₱58 per kilo for imported rice. Meanwhile, the National Food Authority (NFA) has been instructed to sell its rice stockpile to local government units in Metro Manila at ₱38 per kilo to ensure stable supply and affordability for consumers. With global rice prices in decline, Filipinos may soon see more affordable rice in local markets as the government continues to monitor price movements and implement necessary adjustments.

Source Link: https://business.inquirer.net/501147/lower-retail-prices-of-imported-rice-seen#ixzz8ynqgwaxJ