Rice import ban extended till yearend

MANILA, Philippines — The government will maintain the rice import ban until yearend, prolonging it for two more months than originally planned to help lift domestic palay prices and protect farmers from further losses.

Agriculture Secretary Francisco Tiu Laurel Jr. has informed House lawmakers about the plan, the Department of Agriculture said yesterday.

“If the tariff hike is approved, well and good. But if not, our fallback plan – supported by the President – is to allow importation only in January and suspend it again from February to April to protect the next harvest,” Tiu Laurel said during a House agriculture committee hearing.

Local palay prices remain under pressure due to oversupply and poor grain quality caused by persistent rains, he noted.

Rice shipments had reached 3.5 million metric tons, far above the 2.7 million MT that should have been brought in by this point in the year, he stressed.

“We are 800,000 MT in excess,” Tiu Laurel said, adding that the country’s yearly import requirement should only reach 3.6 million MT or about 300,000 MT per month.

President Marcos is mulling the restoration of the 35-percent rice tariff, which was cut to 15 percent in July 2024 to lower retail prices, Tiu Laurel noted.

Tariff cuts had led to around P20 billion in foregone revenues for the government over a 12-month period, he said, citing the Bureau of Customs.