60-day rice import ban not fixed—Agri chief

Department of Agriculture (DA) Secretary Francisco Tiu Laurel said the upcoming 60-day suspension on rice imports could be shortened or extended, depending on potential market shifts.

- By DEXTER BARRO II

In a statement, Tiu Laurel said the government will closely monitor price movements and the outcome of the harvest in the coming months to decide the next step for the import ban.

“Throughout the suspension, we will closely monitor supply and market dynamics—especially among retailers, wholesalers, and importers—and take appropriate action to uphold market discipline,” he said.

President Marcos earlier announced that the country will temporarily suspend foreign rice purchases in order to stabilize local prices, beginning Sept. 1.

Prices of palay (unmilled rice) have reportedly fallen to as low as P8 per kilo, which is well below the production cost of P12 to P14 per kilo.

Aside from adjusting rice prices, the two-month suspension is seen to capitalize on the expected record output for the staple food.