Rice harvested in An Giang Province. The Philippines is considering using the price of Việt Nam’s fragrant rice variety Đài Thơm 8 (DT8) as a new reference for its rice import tariff mechanism. — VNA/VNS Photo Công Mạo

HÀ NỘI — The Philippines is considering using the price of Việt Nam’s fragrant rice variety Đài Thơm 8 (DT8) as a new reference for its rice import tariff mechanism, replacing the current benchmark based on 5-per-cent broken rice’s free-on-board (FOB) price announced by the Food and Agriculture Organisation.

Francisco P. Tiu Laurel Jr., Philippine Secretary of Agriculture, told BusinessWorld Online that the Department of Agriculture (DA) was reviewing the reference basis of its flexible rice tariff scheme to better reflect actual market conditions.

He said most of the rice the Philippines currently imports from Việt Nam was not basic 5 per cent broken rice, but DT8, which he said should be the variety monitored and used as a reference instead.

Tprice of the DT8 rice variety is around US$$430 to $450 per tonne, significantly higher than the FAO’s $361 per-ton quotation for Việt Nam’s 5 per cent broken rice in December.

The Philippines’ flexible rice tariff scheme, started this year, allows import duties to rise or fall in response to global prices.

Using DT8 as the reference price is seen as a more appropriate adjustment that better reflects the value of Việt Nam’s fragrant rice in the international market.

Đài Thơm 8 is a copyrighted variety developed, produced and marketed by Vietnam Rice Company Limited (Vinarice). The variety is widely cultivated in the Mekong Delta and popular for its long grains, soft texture, aroma and good taste, meeting export quality standards.

The Philippines is the world’s largest rice importer with an estimated volume of 5.5 million tonnes in 2026.

The Philippines was also the largest rice market of Việt Nam with a share of 38.3 per cent of Việt Nam’s rice export last year. — VNS