Facebook Pixel DA wants rice imports suspended | Business World Philippines - newspaper - Les denne historien på Magzter.com

Prøve GULL - Gratis

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?”

FLERE HISTORIER FRA Business World Philippines

Business World Philippines

T-bill, bond yields may end mixed on BSP bets

RATES of the Treasury bills (T-bills) and Treasury bonds (T-bonds) to be auctioned off this week could end mixed on uncertainty over the Bangko Sentral ng Pilipinas’ (BSP) future policy actions.

time to read

3 mins

February 23, 2026

Business World Philippines

SEC orders Umeta Credit Lending to halt operations

THE Securities and Exchange Commission (SEC) has issued a cease-and-desist order (CDO) against Umeta Credit Lending Corp. and its associated online lending platforms (OLPs) for unauthorized operations and allegedly engaging in unfair debt collection practices.

time to read

1 mins

February 23, 2026

Business World Philippines

PHL might miss digital payments targets, says BSP

THE PHILIPPINES might fail to reach its payments digitalization targets by 2028 as the Bangko Sentral ng Pilipinas (BSP) noted that progress has been slow amid worries over emerging cyber risks.

time to read

2 mins

February 23, 2026

Business World Philippines

Ayala Land says leasing to propel growth this year

AYALA LAND, INC. (ALI) said leasing will be the main driver of its earnings growth this year, as the company aims to deliver over 250,000 square meters (sq.m.) of new gross leasable area (GLA).

time to read

3 mins

February 23, 2026

Business World Philippines

Trump's 15% global tariff threatens Philippines' export recovery — analysts

THE United States government's plan to impose a new 15% tariff on imports may dampen the Philippines' export recovery and disrupt supply chains, according to analysts.

time to read

3 mins

February 23, 2026

Business World Philippines

Auto dealers talk customer choices

What really matters to car buyers today?

time to read

1 mins

February 23, 2026

Business World Philippines

Further easing seen amid growth woes

THE BANGKO SENTRAL ng Pilipinas (BSP) may extend its easing cycle this year to provide the Philippine economy with more support as lingering uncertainty continues to test consumer and business confidence, analysts said.

time to read

2 mins

February 23, 2026

Business World Philippines

Business World Philippines

Investment scams turn retail fronts into traps for unsuspecting consumers

ON A HUMID afternoon in Manila, Trisha C. Valisno remembers sitting in a small storefront she once believed would fund her future.

time to read

4 mins

February 23, 2026

Business World Philippines

PhilCycling honors a junior champion rider

THE PhilCycling will honor a young champion rider from Pangasinan who died recently when it stages its National Championships for Road 2026 unfurling on Sunday in Tagaytay City.

time to read

1 min

February 23, 2026

Business World Philippines

Meralco chairman signals steady 2025 performance ahead of results

MANILA ELECTRIC CO. (Meralco) Chairman and Chief Executive Officer Manuel V. Pangilinan described the company’s 2025 performance as “good,” citing growth in its distribution operations and renewable energy initiatives as key contributors.

time to read

1 mins

February 23, 2026

Listen

Translate

Share

-
+

Change font size