Facebook Pixel DA wants rice imports suspended | Business World Philippines - newspaper - Read this story on Magzter.com
Go Unlimited with Magzter GOLD

Go Unlimited with Magzter GOLD

Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just

$149.99
 
$74.99/Year

Try GOLD - Free

DA wants rice imports suspended

Business World Philippines

|

August 05, 2025

THE Department of Agriculture (DA) on Monday recommended to President Ferdinand R. Marcos, Jr. a suspension of rice imports and increased tariffs to protect local farmers amid declining farmgate prices.

- By Chloe Mari A. Hufana Reporter

This is meant to shield Filipino rice producers from the continued influx of lower cost imported rice, which has been putting pressure on domestic prices in recent months, according to the Presidential Palace.

The move seeks to strike a balance between supporting local farmers and maintaining a stable food supply across the country, it added.

Presidential Communications Office Acting Secretary Dave M. Gomez did not give further details regarding the proposal but noted that Cabinet members will discuss this with Mr. Marcos during his trip to India from Aug. 4 to 8.

In June, Agriculture Secretary Francisco P. Tiu Laurel, Jr. told the House of Representatives that he recommended that the Tariff Commission implement a phased increase in rice import duties to the original 35% from the current 15%.

He also proposed that the tariff adjustment be aligned with the harvest periods of the Philippines’ key suppliers — around late September for Vietnam and December for Pakistan — to mitigate any adverse impact on the local market.

Mr. Marcos signed Executive Order (EO) No. 62 in June 2024, which slashed rice import tariffs to 15% from 35% until 2028 in a bid to curb rice prices. The tariff is subject to review every four months.

Former Agriculture Undersecretary Fermin D. Adriano said suspending rice imports or limiting these to 1 million metric tons (MT) could trigger a severe supply shortage.

Last year, the Philippines imported 4.7 million MT and is expected to import even more this year.

“The United States Department of Agriculture predicts we will import a higher amount this year,” Mr. Adriano said in a Viber chat. “How will DA fill up the huge supply gap, given that dramatic productivity levels cannot be achieved in a year’s time?”

MORE STORIES FROM Business World Philippines

Business World Philippines

Gold bullion slides on dollar strength, profit-taking

GOLD retreated on Tuesday, easing from a three week high as profit-taking and a firmer dollar pressured prices, while traders awaited clarity on US tariff plans and the outcome of talks between Washington and Tehran.

time to read

1 min

February 26, 2026

Business World Philippines

EDSA protesters demand end to dynasties, corruption 40 years on

FORTY YEARS after a million Filipinos rose against tanks to end a dictatorship, the spirit of EDSA returned on Wednesday as protesters laid siege to the capital’s main thoroughfare, demanding an end to political dynasties amid a multibillion-peso infrastructure scandal that has worsened poverty across the nation.

time to read

2 mins

February 26, 2026

Business World Philippines

Business World Philippines

Meralco 2025 profit grows 12% to P50.6 billion

PANGILINAN-LED Manila Electric Co. (Meralco) achieved its P50-billion profit target for 2025, driven by power generation growth and contributions from its distribution business.

time to read

3 mins

February 26, 2026

Business World Philippines

Isla LPG celebrates partners at 9 Isla Cup Golf Tournament

THE FAIRWAYS of Tagaytay Midlands set a breathtaking stage this year as Isla LPG Corp. hosted its 9th Annual Isla Cup Golf Tournament.

time to read

1 min

February 26, 2026

Business World Philippines

SM Foundation holds medical missions across Metro Manila, Leyte

CONTINUING its commitment to bringing quality healthcare closer to grassroots communities, SM Foundation successfully conducted a series of medical missions this January, serving over 2,000 beneficiaries across Quezon City and the province of Leyte.

time to read

1 min

February 26, 2026

Business World Philippines

Apple shareholders reject call for report on China manufacturing risks

APPLE shareholders on Tuesday rejected a proposal to report on the company’s dependence on China to manufacture most of its products.

time to read

1 min

February 26, 2026

Business World Philippines

Yields on BSP’s term deposits drop further after latest rate cut

THE BANGKO SENTRAL ng Pilipinas’ (BSP) one-week term deposits continued to fetch lower yields on Wednesday as it cut benchmark interest rates further amid economic growth concerns.

time to read

2 mins

February 26, 2026

Business World Philippines

Oil prices dip as Iran prepares to take steps to reach deal with US

Oil prices closed down 1% on Tuesday after Iran said it was prepared to take any necessary steps to reach a nuclear deal with the US, after weeks of increased military deployment by the US in the Middle East.

time to read

1 mins

February 26, 2026

Business World Philippines

Second nationwide NaMMAT administration set for March

THIS MARCH, the Commission on Higher Education (CHED), in coordination with the Center for Educational Measurement, Inc. (CEM), will conduct the second nationwide administration of the National Merchant Marine Aptitude Test (NaMMAT).

time to read

1 min

February 26, 2026

Business World Philippines

Megaworld moves forward with Ilocandia Coastown development

MEGAWORLD CORP. is moving forward with land clearing and infrastructure at its 84-hectare (ha) Ilocandia Coastown, a beachfront township launched in 2024.

time to read

1 min

February 26, 2026

Listen

Translate

Share

-
+

Change font size