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THE average wholesale price of rice in March surged to its highest level in over a year, according to the Philippine Statistics Authority (PSA).

Preliminary data from the PSA showed that the average wholesale price of regular milled rice rose by 12.2 percent to P44.71 per kilo in March, from P39.86 per kilo in the same period last year.

The latest regular milled rice price is the highest level in one year and five months, or since the P44.79 per kilo recorded in October 2024, based on PSA data.

The fastest increase in regular milled rice was posted in Central Visayas, where the price of the staple surged by over a third to 36.7 percent to P51.01 per kilo, from P37.31 per kilo in the previous year.

Furthermore, figures from the state statistics agency showed that the wholesale price of well-milled rice averaged P50.06 per kilo last month, up by 12.6 percent from P44.46 per kilo in March 2025.

Historical data from the PSA showed that the latest figure was also the highest level since the P50.08 per kilo posted in July 2024.

The fastest increase was recorded in Soccsksargen, where prices also grew by over a quarter or 26.8 percent to P49.55 per kilo last month, from P39.07 per kilo in the same period a year ago.

On a monthly basis, the regular milled rice and well-milled rice were also 7.4 and 6 percent higher than the P41.62 and P47.23 per kilo recorded in February, respectively.

Latest retail price of local regular milled rice ranges from P33 to P55 per kilo, while that of well-milled rice settles at P40 and P57 per kilo.

These were higher than the prices recorded prior to the Middle East conflict, where regular milled rice ranged between P33 and P47 per kilo, while well-milled rice reached P40 to P54 per kilo, based on government data.

With imported rice currently being sold at around P55 to P60 per kilo, the government plans to impose a price cap in order to moderate prices.

The Department of Agriculture (DA) expects retail prices of foreign rice to ease to P50 per kilo as President Ferdinand Marcos Jr. issues an executive order setting a price cap.

Source : businessmirror