Philippines: DA official sees higher prices for imported rice by Nov
The Philippines’ Agriculture Department warned that peso depreciation and rising freight costs could push imported rice and fertilizer prices higher from November. Rice imports have reached 4.36 million tonnes, with further arrivals expected by December, while authorities said existing food inventories remain sufficient despite El Niño risks.
Agriculture Assistant Secretary Arnel De Mesa yesterday warned that the recent depreciation of peso could cause prices of imported agricultural commodities such as rice and fertilizer to go up, likely starting next month.
“Number one, it will affect our imported items. For example, rice and fertilizer. Of course, we will need more pesos to buy them, so it will be more expensive,” De Mesa told reporters during a press briefing on Thursday.
He said there would be “possible movements” in prices of imported rice by November.
“There are possible movements because of the increase of the dollar and, of course, that will reflect. And second, the freight cost is also moving because of the price of fuel,” he said.
Based on DA’s Daily Price Index on its website as of Oct. 28, premium imported rice costs P56.09 per kilogram (kg) and well-milled imported rice at P48.58/kg.
Imported rice volumes, meanwhile, are expected to increase as well by November to December.
Latest data from the Bureau of Plant Industry showed that the Philippines’ rice imports reached 4.36 million metric tons (MT) ahead of El Niño.
Vietnam remains as the country’s top rice supplier as of Oct. 22 with imports reaching 2.78 million, followed by Thailand (624,841 MT) and Myanmar (472,762 MT).
The volume has almost surpassed 2024 levels where rice imports reached 4.80 million MT.
Recently, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) warned that El Niño may intensify into a very strong one by end-2026 and persist until the first half of 2027. This is expected to bring below-normal rainfall, prolonged dry spells, reduced water supply and extreme heat in parts of the country.
To protect local buffer stocks from El Niño, the Department of Agriculture (DA) last month said that rice imports were not barred from entering the country. Also, in early September, the agency said the Philippines may need to import as much as 5 million metric tons of rice.
De Mesa said the country had enough food supplies despite the peso depreciation and El Niño.
“We have enough volume and inventory until the end of 2026 of our primary foods that have already arrived in our country, both imported, of course, our local production. So, again, we want to reiterate the position of our President, that in the sector of agriculture, we should not panic, because we have enough food for everyone,” he said.
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Source : The Manila Times
