MANILA — Rice at P20 per kilogram will soon become a reality, President Ferdinand Marcos, Jr. said Wednesday, but added that many things must still be accomplished.

During the simultaneous launch of the "Kadiwa ng Pasko" project in Mandaluyong, Marcos, who is currently the country's agriculture chief, said rice being sold in these stalls and the National Food Authority (NFA) are pegged at P25 per kilogram.

"Nakita niyo ang bigas 25 pesos. Palapit na tayo doon sa ating pangarap na mag-P20 pero dahan-dahan lang, aabutin din natin 'yan," Marcos said, prompting the crowd to cheer.

"Pero marami pa tayong gagawin, andami pang nangyayari at wala naman tayong magawa dahil ang pagtaas ng presyo ng bilihin ay hindi naman nanggaling sa ekonomiya natin. Nanggaling 'yan sa mga pangyayari sa iba't-ibang lugar na hindi natin ma-control," he added.

Video from PTV

Based on the Department of Agriculture's rice monitoring in Metro Manila as of Tuesday, local commercial rice is being sold between P38 to P50 per kilogram.

• Special (blue tag) - P50
• Premium (yellow tag) - P45
• Well-milled (white tag) - P40
• Regular-milled (white tag) - P38

Here are the prices of imported commercial rice:

• Special (blue tag) - P50
• Premium (yellow tag) - P45
• Well-milled (white tag) - P41
• Regular-milled (white tag) - P38

The DA under the previous administration had shut down the possibility of selling rice at P20 per kilogram, saying this could only be possible if the budget of the NFA will be increased.

This will maintain the farmgate price and procurement price between P19 to P20 per kilo, while the buffer stock will be rolled over to retailers.

• P20/kg rice possible by 2023 via 'mega farm': DAR chief

The Department of Agrarian Reform in the same administration said the move could only be possible through a "mega farm" or consolidated production.

A report by Agence Kampuchea Presse has shown that Cambodia asked the country to import more Cambodian rice and look at increasing its investments there.

In the first 9 months of the year, Philippine rice imports were estimated to have hit 2.75 million metric tons.