Denemek ALTIN - Özgür
DA eyes extending rice import ban
Business World Philippines
|September 30, 2025
THE Department of Agriculture (DA) is considering extending the ban on rice imports until the end of the year, as farmgate prices of palay or unmilled rice continue to fall.
"I met with the President last week and we decided to extend the import ban by a minimum of 30 days," Agriculture Secretary Francisco P. Tiu Laurel, Jr. told reporters in mixed English and Filipino at the House of Representatives on Monday.
"It is possible that it will be extended until the end of the year depending on the situation. The problem is that palay prices have dropped," he added.
President Ferdinand R. Marcos, Jr. had earlier ordered a 60-day suspension of rice imports starting Sept. 1 to protect Filipino farmers during harvest season and to stabilize rice prices. The suspension was originally supposed to end on Nov. 2 and applies only to regular milled and well-milled rice.
Last Friday, Presidential Communications Office Undersecretary Clarissa A. Castro said the President ordered the extension of the import ban but did not give details.
Under Republic Act No. 12078, the President is allowed to suspend or prohibit the importation of rice during a specific period, when there are excess of local or imported supply resulting in a drop in local prices.
"I also talked to our rice millers and traders last week. They are actually requesting the import ban be extended until the end of this year," Mr. Tiu Laurel said.
Mr. Tiu Laurel said there is "a big possibility" that tariffs on imported rice would be hiked before the import ban ends.
Bu hikaye Business World Philippines dergisinin September 30, 2025 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
Zaten abone misiniz? Oturum aç
Business World Philippines'den DAHA FAZLA HİKAYE
Business World Philippines
Digital banks, fintech players to launch roadmap, other initiatives for financial health
THE Digital Bank Association of the Philippines (DIBA PH) and FinTech Alliance PH will launch three new initiatives to help advance financial well-being and digital inclusion in the country.
2 mins
December 04, 2025
Business World Philippines
BSP: Slow growth raises rate cut odds
THE PHILIPPINE ECONOMY will likely undershoot the target this year amid spending cuts and weak investor sentiment due to the graft scandal, increasing the possibility of further easing this month, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. said.
3 mins
December 04, 2025
Business World Philippines
Hotel101 signs MOU with DOT, DMW to offer IPON Tourism for OFWs
HOTEL101 GROUP has signed a Memorandum of Understanding (MOU) with the Department of Tourism (DOT) and Department of Migrant Workers (DWM) in support of the Balik Bayani sa Turismo (BBST) Program.
1 min
December 04, 2025
Business World Philippines
Philippines to boost global bond sales as graft hits economy
THE PHILIPPINES plans to raise the amount of funds it gets from selling international bonds by more than 60% to $5.3 billion next year, as the government seeks to finance an economy stunted by a graft scandal.
2 mins
December 04, 2025
Business World Philippines
PHL may grow below target until 2027
THE PHILIPPINE ECONOMY is expected to miss the government's growth targets this year until 2027, the Organisation for Economic Co-operation and Development (OECD) said.
3 mins
December 04, 2025
Business World Philippines
Peso sinks as BSP chief says weak growth may lead to another rate cut
THE PESO slid to a near two-week low against the dollar on Wednesday as the Bangko Sentral ng Pilipinas (BSP) chief said they expect economic growth to miss the government's target this year, which could give them a reason to cut rates again next week.
1 mins
December 04, 2025
Business World Philippines
LME copper scales record peak on supply tightness
COPPER powered to a record high above $11,200 a metric ton on Friday, as supply of the metal outside the United States tightened and a weaker dollar fueled the rally further.
1 min
December 04, 2025
Business World Philippines
Term deposits fetch lower yields on inflation, BSP easing bets
THE BANGKO SENTRAL ng Pilipinas’ (BSP) seven-day term deposits fetched a lower average rate on Wednesday on strong demand and expectations of benign November inflation that would lead to further monetary easing.
2 mins
December 04, 2025
Business World Philippines
ArenaPlus, Gilas Pilipinas team up for FIBA World Cup Asian Qualifiers
ONLINE SPORTSBOOK ArenaPlus renews its sponsorship with Gilas Pilipinas, ahead of the 2027 FIBA World Cup as they face Guam in the first round of the Asian Qualifiers.
1 min
December 04, 2025
Business World Philippines
Angel's Pizza secures top honors from delivery platforms this year
ANGEL'S PIZZA gained dual victory in the highly competitive online food delivery space as it has been honored with the prestigious Grab Platinum Fan Faves Award for the third consecutive year and the Silver Award for Pau-Pau Momentum Master at the recent Foodpanda Crave Awards.
1 min
December 04, 2025
Listen
Translate
Change font size
