PSA: rice, oil prices climb

Retail prices of rice and cooking oil climbed in early March 2026, while key protein items such as pork and galunggong (mackerel scad) saw modest declines, according to the latest data from the Philippine Statistics Authority (PSA).

Well-milled rice averaged P55.10 per kilogram from 1 to 5 March, up from P53.54 in late February and P52.62 in early February. Banana latundan and cooking oil also recorded increases, with cooking oil hitting P194.26 per liter, marking a rise from P193.75 in mid-February.

In contrast, fresh pork with bones fell to P308.82 per kilogram, down from P311.74 in mid-February and P313.62 in early February. Galunggong prices eased to P243.01 per kilogram from P246.38 in late February, while red onions dropped to P167.67 per kilogram. Tomatoes also saw a decline, averaging P86.30 per kilogram compared with P95.74 in mid-February.

Compared year-on-year, rice and cooking oil remain above the 2025 levels, reflecting ongoing cost pressures, while pork and fish remain below last year’s prices. Banana latundan similarly rose from its P54.89 per kilogram level in March 2025, showing steady upward momentum.

The PSA notes these price movements highlight supply and demand shifts across staple food and agricultural commodities. Analysts say rising oil and transport costs, seasonal harvest cycles, and global commodity trends are key factors influencing market prices.

These data provide a critical snapshot for policymakers and traders aiming to stabilize food prices amid broader inflationary pressures.