MALACANANG announced today that the price of rice in the Philippines is expected to drop to ₱45 per kilogram by the end of March.
Palace Press Officer Undersecretary Atty. Claire Castro, citing a meeting with Agriculture Secretary Francisco Tiu Laurel, attributed the anticipated price decrease to a decline in global rice prices.
“We had a meeting with Secretary Laurel, and we can expect the lowering of the price of rice by March 31,” Castro said at a press briefing. “At this point, the price of rice is ₱49, but by March 31 we can expect it to be lowered to ₱45.”
Castro explained that the decrease is a direct result of the lower global rice price. She noted that the world price, previously ranging from $700 to $740 per ton, has fallen to approximately $380 to $400 per ton.
In addition to the projected rice price drop, Castro announced that Secretary Laurel also anticipates a reduction in pork prices by March 10. Specifically, the price of kasim and pigue (pork cuts) is expected to fall to between ₱350 and ₱360 per kilogram, while liempo (pork belly) is projected to reach ₱380 per kilogram.
