Grains of Security, A Harvest of Hope: PH Locks in 1.5M MT Vietnam Rice Deal Until 2027

Philippines Secures Long-Term Rice Supply Agreement with Vietnam

The Philippines and Vietnam have signed a binding agreement securing 1.5 million metric tons (MT) of rice at a fixed price of $450 per MT for the popular DT8 rice variety through April 2027.

At the 48th ASEAN Summit, Secretary Francisco Tiu Laurel Jr. secured the long-term rice agreement with Vietnam to stabilize supply against global conflicts and climate change. This pact keeps food affordable and accessible for Filipino families by shielding domestic prices from inflation and market shortages.

The partnership streamlines the process of bringing rice from Vietnam into local markets. It simplifies trade rules, secures Vietnam as a primary source of food supply, while opening up more opportunities in tourism and maintaining regional stability.