-
The Philippines will extend the ban on rice imports until the end of 2025, according to Agriculture Secretary Francisco Tiu Laurel, Jr
-
The country still has an 85-day buffer stock sufficient for the rest of the year, he said
-
By January, Tiu Laurel said they are considering a one-month import window, anticipating that imported rice stocks may be depleted by November
-
Importation will again be suspended from February to April as local farmers go into harvest season
-
Tiu Laurel said the Department of Agriculture is also hoping for a tariff increase, but the government’s economic managers are still reviewing its implications
The Philippines will extend the ban on rice imports until the end of 2025 with an 85-day buffer stock sufficient for the rest of the year, according to Agriculture Secretary Francisco Tiu Laurel Jr.
“We will extend the rice import stoppage until the end of 2025,” Tiu Laurel said during a joint hearing of the House of Representatives’ Committee on Agriculture and Committee on Ways and Means on Monday.
He cited data showing total rice imports have reached 3.5 million metric tons (MMT) as of end-September, 800,000 MT higher than the 2.7 MMT target.
President Ferdinand R. Marcos Jr. earlier ordered a 60-day suspension of rice imports starting September 1, 2025, to protect local farmers from falling palay prices during the harvest season.
By January, Tiu Laurel said they are considering a one-month import window, anticipating that imported rice stocks may be depleted by November. Importation will again be suspended from February to April as local farmers go into harvest season.
“I believe we have to import by January just to be sure,” he said.
Tiu Laurel said the Department of Agriculture (DA) is also hoping for a tariff increase, but the government’s economic managers are still reviewing its implications.
“There are two plans. Of course, if the tariff goes up by 35%, as mentioned by the (House) Speaker (Faustino Dy III), that’s well and good. But if that doesn’t happen, the DA’s plan, which is more or less approved by the President, is to allow importation in January for one month. Then by February, we’ll suspend it again until April to protect the harvest season, which runs from mid-February to the end of April,” he said.
The DA is also waiting for Malacañang to issue an executive order setting a floor price for palay at P17 per kilo, possibly higher depending on the President’s final decision.
“The P17 we mentioned is the minimum,” he said. “It simply shouldn’t go below P17. Depending on the President’s preference, we may impose a price of P18 or P19,” the agriculture chief said.
Meanwhile, Dy reiterated his call to restore rice import tariffs to 35% from the current 15%, saying it would help stabilize farm incomes and strengthen the National Food Authority through the proposed Rice Industry and Consumer Empowerment (RICE) Act.
Tiu Laurel said “our economic managers are seriously evaluating this because if imposed hastily, it could drive up market prices and trigger complaints from consumers.”
“So it’s really a balancing act,” he added.
