Good until April 2027: PH secures rice supply from Vietnam
The Philippines and Vietnam have forged a one-year rice supply agreement to ensure the availability of the household staple until April 2027 amid risks from the Middle East crisis and a possible El Niño dry spell later this year.
The Department of Agriculture (DA) said the countries had sealed the deal involving 1.5 million metric tons (MT) of rice on the sidelines of the Association of Southeast Asian Nations summit in Cebu.
Vietnam, the country’s top supplier of imported rice, finalized the pricing and trade logistics with the Philippines. They agreed on a $450 per MT price for Dai Thom 8, a high-quality fragrant rice variety.
“Securing import volumes until next April is crucial amid geopolitical uncertainties and climate risks,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement on Friday.
Tiu Laurel underscored the urgency of securing reliable rice supply from Vietnam—which accounts for more than two-thirds of the country’s overseas rice purchases— along with other major suppliers, to reduce market volatility and stabilize local rice prices.
“Rising regional demand—exacerbated by the Middle East crisis—and potential production challenges from another El Niño event have made stable imports a priority,” the agriculture chief said.
Tiu Laurel said the accord could serve as a blueprint for broader agricultural cooperation. Vietnam is considering a long-term trade framework for rice and other agricultural commodities.
The Philippines imported 1.58 million MT of rice as of April 23 this year, up 11.3 percent from the figure in the first four months of 2025, data from the Bureau of Plant Industry showed.
Vietnam supplied the bulk at 81.46 percent. Myanmar came next with a 10.16 percent share and Thailand with 5.22 percent.
Starting this year, rice tariff rises by 5 percentage points per 5-percent drop in international prices. It falls by 5 percentage points per 5-percent rise in global prices.
