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DA Vows Stronger Push to Curb Food Prices, Sustain Low Inflation

NPO

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August 8, 2025

Manila, Philippines – Agriculture Secretary Francisco P. Tiu Laurel Jr. on Tuesday underscored the Department of Agriculture’s (DA) commitment to work double-time in keeping food prices stable and sustaining the country’s downward inflation trend.

The Philippine Statistics Authority reported that inflation eased to 0.9 percent in July—a six-year low—driven largely by declining food prices. Rice and corn, both vital staples, posted significant year-on-year price drops of 15.9 percent, contributing to the favorable economic climate.

This development gives the Bangko Sentral ng Pilipinas more room to lower interest rates, which could spur economic activity and job creation.

“Now that we’ve helped lower inflation, our next challenge is to address rice and pork concerns to keep food inflation firmly in check,” said Tiu Laurel.

On July 16, the DA reduced the maximum suggested retail price of 5% broken imported rice from ₱45 to ₱43 per kilo. This, coupled with President Ferdinand Marcos Jr.’s earlier move to cut rice import tariffs from 35% to 15%, has brought retail rice prices down from over ₱60 per kilo.

The DA is also tackling persistently high pork prices, which remain elevated due to domestic supply shortages caused by African Swine Fever (ASF). The administration aims to make an ASF vaccine commercially available before year-end, while also recalibrating pork import policies to ease market prices.

Meanwhile, President Marcos is considering suspending rice imports and raising tariffs to protect local farmers from oversupply caused by excessive importation.

NPO News Team

DA-PR