Prolonged ban to slash PH rice imports

The country’s rice imports for the year are projected to decline by 1.4 million metric tons (MT) following the government’s imposition of a four-month import ban, according to the United States Department of Agriculture (USDA).

- By DEXTER BARRO II

In its December report on the global grains trade, the USDA’s Foreign Agricultural Service (FAS) estimated that the Philippines will import only 3.5 million MT this year, down 29 percent from its revised forecast of 4.9 million MT in the prior report.

The foreign agency attributed the sharp decline to the temporary suspension of rice imports, which started in September.

President Ferdinand R. Marcos Jr. previously ordered a 60-day import ban to avert the decrease in farmgate prices, which had fallen to as low as 8 per kilo due to the influx of cheaper imported rice.

It was extended until the end of the year after prices continued to plunge, dropping to as low as P6 per kilo in some provinces, partly due to the added impact of recent adverse weather conditions.