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The Philippines and Vietnam have agreed on a trade deal for the latter’s supply of 1.5 million metric tons of rice to ensure deliveries until April 2027
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Pricing and trade logistics were also finalized, with both parties agreeing on US$450 per metric ton for the popular DT8 rice variety
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Philippine Agriculture secretary Francisco Tiu Laurel Jr. said securing import volumes until next April is crucial amid geopolitical uncertainties and climate risks
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Both countries also agreed to establish a long-term rice trade mechanism aimed at ensuring stable supply and strengthening food security cooperation
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The two nations’ leaders held a bilateral meeting on May 7 on the sidelines of the ongoing 48th ASEAN Summit in Cebu
The Philippines and Vietnam have agreed on a trade deal for the latter’s supply of 1.5 million metric tons of rice to ensure deliveries until April 2027.
Pricing and trade logistics were also finalized, with both parties agreeing on US$450 per metric ton for the popular DT8 rice from Vietnam, said Philippine Agriculture secretary Francisco Tiu Laurel Jr. in a statement.
While the negotiations focused on rice, the deal could serve as a blueprint for broader agricultural cooperation, he added.
The agreement was made during high-level talks on the sidelines of the 48th Association of Southeast Asian Nations Summit in Cebu.
“Securing import volumes until next April is crucial amid geopolitical uncertainties and climate risks,” Agriculture secretary Francisco Tiu Laurel Jr. said in a statement, stressing the importance of predictable supply to stabilize price.
Rice is the country’s national staple, and weighs heavily in the basket of consumer goods that determine inflation, which surged to a three-year high 7.2% in April.
Tiu Laurel underscored the urgency of securing reliable rice supplies from Vietnam, the country’s primary grain supplier. He noted that rising regional demand—exacerbated by the Middle East crisis—and potential production challenges from another El Niño event have made stable imports a priority.
READ: PH, Vietnam sign five-year rice trade deal
The agri chief said Vietnam is also looking to establish a long-term trade framework for rice and other agricultural commodities.
In a separate statement, the Presidential Communications Office said Philippine President Ferdinand Marcos Jr. and Vietnamese Prime Minister Lê Minh Hưng, during the same bilateral meeting, also agreed to establish a long-term rice trade mechanism aimed at ensuring stable supply and strengthening food security cooperation between the two countries.
Beyond securing rice for domestic consumption, the DA said the pact signals a deeper commitment to regional collaboration. By forging long-term ties with major producers like Vietnam, the Philippines aims to reduce market volatility and stabilize local rice prices.
Tiu Laurel also emphasized that Manila continues to maintain alternative supply sources, ensuring resilience against fluctuating regional markets.
READ: BOC chief orders streamlined procedures for releasing rice imports
