Rice Prices Projected to Drop to P44-P46 per Kilo, Says DA

The Department of Agriculture anticipates a notable decrease in the price of well-milled rice to P44 to P46 per kilo in the near future, influenced by the downward trend of rice prices in the international market. This development is corroborated by the Samahang Industriya sa Agrikultura (SINAG), which noted a decrease in the price per metric ton of rice from $612 to $580.

Assistant Secretary Arnel De Mesa of the Department of Agriculture expressed optimism regarding the continuing decline in international rice prices and its consequent effect on the cost of imported rice in the Philippines. “Hopefully, the price of rice in the international market will continue to fall, and it will impact the price of imported rice arriving in the country. Well-milled rice prices are expected to return to the range of P44 to P46,” De Mesa stated.

However, SINAG chairman Rosendo So provided a slightly higher estimate for the price of rice in the coming weeks, attributing the difference to the cost of local rice harvests. “The price for our local harvest of unmilled rice has decreased from P26 to P24. This equates to approximately P47 to P48 per kilo of milled rice,” So explained.

These projections come as a relief to consumers who have been facing high food prices. The adjustment in rice prices is closely watched, given its staple food status in the Filipino diet. The Department of Agriculture, along with industry stakeholders like SINAG, continues to monitor both local and international market trends to ensure that the benefits of price reductions are passed on to consumers.

The expected price adjustment for well-milled rice reflects the government’s efforts to stabilize food prices amid varying market conditions, aiming to make staple foods more affordable for Filipinos.