Philippines Rice price ceiling stays despite import ban—Tiu Laurel
The Philippines will maintain the maximum suggested retail price (P43/kg for 5% broken imported rice) despite a two-month rice import suspension ordered by President Marcos Jr. to protect farmers from plunging palay prices. Agriculture Secretary Laurel said the ban, adjustable by price trends and harvest results, exempts specialty rice varieties.
MANILA—The maximum suggested retail price (MSRP) for imported rice will remain in effect despite the two-month suspension of rice imports ordered by President Ferdinand Marcos Jr., the Department of Agriculture (DA) said Thursday.
The import ban, from September to October, aimed to stabilize prices for palay, or unmilled rice, which dropped to as low as P8 per kilogram. This is well below production costs even for the most efficient farmers and has raised concerns over the livelihoods of the country’s three million rice farmers, the DA said.
Agriculture Secretary Francisco Tiu Laurel Jr. said the department would “maintain the MSRP even during the two-month rice 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,” Tiu Laurel said.
The MSRP for 5-percent broken imported rice was cut from P45 to P43 per kg. on July 16.
Tiu Laurel said the import suspension period could be shortened or extended depending on price trends and the results of the main harvest in the coming months.
Specialty rice varieties, such as Japanese, black and basmati, will be exempt from the ban.
Bureau of Plant Industry (BPI) data showed imported rice arrivals between January and July reached 2.44 million metric tons (MT), with pending sanitary and phytosanitary import clearances covering about 300,000 MT.
According to the Philippine Statistics Authority (PSA), the country consumes roughly 9.8 kilograms of rice per person each month, or 325.5 grams daily.
Under the Rice Tariffication Law, the President has the authority to halt rice imports to protect local farmers and stabilize prices.
The DA said it is ready to adjust policies if supply tightens, ensuring both farmers and consumers are protected.
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Source : Manila Standard
