President Ferdinand “Bongbong” Marcos Jr. remains optimistic that rice prices in the Philippines will continue to decrease, following positive pricing trends observed across Southeast Asia. Marcos highlighted that current projections align with the experiences of other ASEAN nations.
According to the Presidential Communications Office, rice remains the leading contributor to inflation, accounting for 1.3 percentage points.
Agriculture Secretary Francisco Tiu Laurel expects rice prices to ease significantly, with a full impact anticipated by January 2025. Laurel projected a reduction of P5 to P7 per kilogram, driven by lower tariffs and favorable international price trends.