AGRICULTURE Secretary Francisco Tiu Laurel Jr. predicted rice prices to go down by next month.

Laurel made the prediction at the sidelines of the Horticulture and Urban Agriculture Summit in Makati City.

He said that the prices of rice in the international market had also started to go down in the past weeks.

"The reality is it's declining up until last week at USD590 per ton but unfortunately, this week it went up to USD630 per ton," he said.

However, he said the Philippihnes may feel such movement by June.

"On average, I think prices should be lower by next month ng kunti pero ang prediction din namin by second half pababa ang presyo sana ng rice sa international market (On average, I think prices should be lower by next month a little bit, but our prediction is that by the second half, the price of rice in the international market will go down)," Laurel said.

"If world prices go down, definitely, local prices will go down also," he added.

According to Laurel he remains optimistic that palay production will go up in the next harvest season.