MANILA, Philippines — The ban on rice importation has been extended until the end of the year, the Department of Agriculture (DA) announced yesterday.
President Marcos gave the go-signal for an extended ban on rice importation through an executive order, Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement.
“With the import ban having little impact on retail prices and supply of rice but a significant effect on the farmgate price of palay, President Marcos deemed it necessary to extend the suspension for two more months,” he said.
The 60-day import ban would have ended last month.
Tiu Laurel said the prolonged import ban and “the rollout of the Sagip Saka program and the establishment of a floor price for palay should help support struggling rice farmers.”
He assured the public that supply of rice will remain adequate even with another 60-day ban on importation, based on DA projections.
“Conservative estimates place supply at 89 days by yearend, while optimistic scenarios project up to 92 days, considering 122.7 kg/annum the projected per capita consumption compared with just 58 days’ worth of stocks at the end of 2024,” the DA said.
“Retail rice prices have remained broadly stable,” according to the DA’s Agribusiness and Marketing Assistance Service, with well-milled rice priced at an average of P42 per kilo and regular-milled rice at around P40 by this month.
Meanwhile, the Economy and Development Council (EDC) is set to discuss proposals on rice tariff adjustments.
To be presented – among others – before the EDC today are proposals of the Tariff and Related Matters Committee regarding farmers’ request to bring back the rice tariff to 35 percent, according to Secretary Arsenio Balisacan of the Department of Economy, Planning and Development.
The EDC, chaired by President Marcos, is responsible for directing and providing overall policy direction on economic matters toward inclusive and sustainable economic growth and development. — Louella Desiderio