The Philippine Army (PA) is bidding out this month (September 2019) 6,427 rounds of brand new High Explosive (HE) ammunition for its RPG-7 weapons with a budget of Php 8,000 for each round.
The RPG-7 HE ammo is more powerful than the 40 x 46 mm ammunition used on launchers like the M203. The 40 x 46 mm ammo only has around 31 g of explosive filler while an RPG-7 ammo usually has around 210 g of the same, or more than six times more.
Put it another way, each RPG-7 HE ammo is roughly equivalent to at least six 40 x 46 mm ammunition.
SOURCES:
* Invitation to Bid - RPG 40 mm HE Ammunition for the PA
* 40mm Low-Velocity Grenades
* The Rogue Adventurer - FSA