P45/kilo rice in January 2025?

Rice prices are expected to drop to P45 per kilo in January next year.

Agriculture Secretary Francisco Tiu-Laurel said the projected decline in rice prices is due to government interventions, particularly the tariff rate cut meant to stabilize the country’s supply of the staple.

They expect prices to gradually fall by mid-October, Tiu-Laurel said in a Palace briefing.

But, the full effect of the price decline should be felt in four months’ time, he added.

The secretary said aside from lower duties, falling prices in the international market had something to do with the decline of rice prices.

“But the full effects, para sa akin, P5 to P7 ang range, so, I will put it at P5 na dapat bumaba. Kung P52 ngayon ang bigas, dapat by January nasa P48 na lang iyan, Kung P50 ang bigas ngayon, P45 dapat iyan by January, iyan ang aking estimates,” said Tiu-Laurel.IMT