Malacañang Palace on Wednesday announced that the public can expect lower prices for rice and pork by the end of the month.

Citing Agriculture Secretary Francisco Tiu Laurel Jr. in a press briefing, Presidential Communications Office Undersecretary Claire Castro said the price of rice could drop to P45 per kilo, down from the current P49 per kilo.

Meanwhile, prices of pork products may also decrease, with kasim (pork shoulder) and pigue (leg/ham) expected to range between P350 to P360 per kilo, while liempo (pork belly) may be priced at P380 per kilo.

Castro said Laurel attributed the expected drop in rice prices to the declining global market rates.

"If before there was a price that was hitting $700 to $740 per ton, now it has dropped, if we are not mistaken, it seems to have dropped to $400 or less, or $380 dollars per ton. So, that is just one of the reasons we see for the price of rice to drop," she explained.

She noted that the rice variety in focus is Dai Thom 8 (DT8), a high-quality, lightly fragrant variety from Vietnam, which has become a preferred choice among Filipino consumers.

"Most Filipinos say they prefer the more expensive type, the DT8 – that's what our consumers really demand," Castro added.

As for the expected drop in pork prices, Castro said the Department of Agriculture (DA) has yet to disclose the specific factors contributing to the reduction.

Earlier, the Philippine Statistics Authority (PSA) reported that inflation eased in February, largely due to slower inflation in food and non-alcoholic beverages.

The country’s current inflation rate stands at 2.1 percent for February, down from 2.9 percent in January.