Malacañang on Wednesday projected a potential drop in rice and pork prices following its meeting with the Department of Agriculture, signaling welcome relief for consumers amid ongoing market adjustments.
In a Palace briefing, Presidential Communications Office Undersecretary Claire Castro noted that current international trends could pave the way for lower domestic prices.
“Right now, according to Secretary (Francisco Tiu Laurel Jr.), the world price has gone down; because if there is a real increase [in the price] of rice, this is… the basis, one of the factors here is the world price,” Castro said.
She said that rice is currently selling at about 49 pesos per kilo. However, if conditions hold, the price is expected to fall to 45 pesos per kilo by March 31.
Castro attributed changes in rice prices to the significant drop in international prices, from approximately $700 to $740 per ton to $380 to $400 per ton. This decline is expected to drive local price reductions.
She also indicated that pork prices could see an earlier adjustment. Specifically, parts such as “kasim” (pork shoulder) and “pige” (pork leg) are forecast to drop to a range between P350 and P360 per kilo by March 10, while “liempo” (pork belly) could decline to P380 per kilo.
