Marcos suspends rice importation for 60 days
NEW DELHI, India — President Ferdinand Marcos Jr. ordered the importation of rice for 60 days, according to Presidential Communications Office (PCO) Secretary Dave Gomez said on Wednesday, August 6.
Marcos’ order followed the Department of Agriculture’s (DA) recommendation to raise tariffs in order to protect local farmers.
However, the president said that it was not yet time to discuss increasing rice tariffs.
"We will still see if we need to resort to that. Right now the decision is to suspend all rice importation for 60 days beginning Sept. 1,” Gomez said in a message to reporters.
Gomez said that the suspension was ordered to protect farmers.
Marcos made the order on the sidelines of his state visit to India.
DA Secretary Francisco Tiu Laurel Jr. has recommended gradually increasing rice tariffs, from the current 15% to 25%, and eventually, 35%.
Laurel said this would help prevent disrupting the value chain and protect both consumers and local farmers.
“This is a delicate balancing act between our duty to protect rice farmers from those who undervalue their produce and ensuring consumers have access to affordable rice,” Laurel said in a statement.
Marcos’ administration has been aggressive in the importation of rice to help bring down high rice prices.
In 2024, the president issued an executive order to reduce rice tariffs to the current 15% tariff rate until 2028.
The move had seemingly worked, with rice inflation hitting the negatives. In the latest inflation report from July, rice is currently on a deflation downtrend. The inflation rate of rice is recorded at -15.9%.
However, many local farmers have decried the reliance on importation, saying that they were losing money, with some being pushed into heavy debts.
- Latest
- Trending
