MANILA – The Philippines has secured a long-term rice import agreement with Vietnam that will guarantee stable supply until April 2027, the Department of Agriculture (DA) confirmed Friday.
The agreement, forged during a bilateral meeting between President Ferdinand R. Marcos Jr. and Vietnamese Prime Minister Lê Minh Hưng on the sidelines of the ASEAN Summit in Cebu, sets up a sustained rice trade framework aimed at reinforcing food security.
Agriculture Secretary Francisco Tiu Laurel Jr. said the deal comes at a crucial time as global uncertainties, including tensions in the Middle East and climate-related risks, continue to affect food supply chains.
He emphasized that securing committed import volumes ensures price stability and reduces exposure to global market volatility.
The agreement provides for the steady delivery of 1.5 million metric tons of Vietnam’s DT8 rice variety, a premium fragrant grain widely favored in the Philippine market for its soft texture and aroma.
The rice will be supplied at a fixed rate of USD 450 per metric ton through next year.
Tiu Laurel described the pact as a key step in strengthening ASEAN agricultural cooperation, noting that it may serve as a foundation for broader regional trade partnerships.
He also assured that the Philippines is maintaining diversified sourcing strategies to safeguard domestic supply resilience despite external risks.
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