The Philippines has secured 1.5 million metric tons (MT) of rice from Vietnam, ensuring a stable supply of the country’s staple grain through April 2027.
The agreement was reached after Ferdinand Marcos Jr. and newly elected Vietnamese Prime Minister Le Minh Hung agreed to establish a long-term trade mechanism aimed at ensuring stable rice supply and strengthening food security cooperation between the two countries.
In a separate statement, Francisco Tiu Laurel Jr. said the agreement is crucial amid the continuing conflict in the Middle East.
Under the deal, both sides agreed on a one-year arrangement covering 1.5 million MT of rice, ensuring uninterrupted deliveries through April 2027.
“Securing import volumes until next April is crucial amid geopolitical uncertainties and climate risks,” Tiu Laurel said.
The agriculture chief also underscored the urgency of securing reliable rice supplies from Vietnam as regional demand increases. He said the Middle East conflict, along with possible production challenges linked to the threat of El Niño, has made stable imports a priority.
Tiu Laurel added that Vietnam is seeking to establish a long-term trade framework covering rice and other agricultural commodities.
“Even the Vietnamese prime minister has consistently highlighted this during the bilateral meeting,” he said.
Rice remains the Philippines’ staple food and is a major component in the basket of consumer goods used to measure inflation, which rose to a three-year high of 7.2% in April.
Tiu Laurel said pricing and trade logistics have also been finalized, with both countries agreeing on a price of $450 per metric ton for the popular DT8 rice variety.
While negotiations focused on rice, the agriculture chief said the agreement could serve as a model for broader agricultural cooperation between the two nations.
“This deal builds on our push for ASEAN countries to trade more closely — it’s another step toward regional integration,” Tiu Laurel said. — Photo from the Presidential Communications Office
