DA further reduces rice prices

The Department of Agriculture (DA) has further reduced rice prices under its Rice-for-All initiative, offering five percent broken rice at P43 per kilo and 25 percent broken rice at P35 per kilo.

The KADIWA ng Pangulo program will continue to offer rice at P29 per kilo for vulnerable sectors.

Agriculture Secretary Francisco Tiu Laurel Jr. stated that achieving the P20/kilo rice campaign promise is unlikely, but prices in the mid-P30s per kilo are possible.

Global rice prices have dropped, with Vietnam's 5 percent broken rice costing USD416 per metric ton in January, down from USD634.5 per MT in January 2024.

Government interventions include lower tariffs on imported rice (15%), a food security emergency declaration for rice, and a maximum suggested retail price (MSRP) set at P55/kg. for 5 percent broken imported rice.