President Ferdinand Marcos Jr. is moving to tighten the country’s rice import policy by extending the current two-month import suspension and raising tariffs on foreign rice, in a bid to stabilize palay prices and protect Filipino farmers during the peak of the harvest season.
Agriculture Secretary Francisco Tiu Laurel Jr. made the announcement, saying the President has directed the Department of Agriculture to prepare the necessary orders to extend the import freeze.
“The duration of the import freeze and the possible increase in taxes on imported rice will be determined once we have more accurate data on supply and prices of palay at the farm gate.”
“The duration of the import freeze and the possible increase in taxes on imported rice will be determined once we have more accurate data on supply and prices of palay at the farm gate,” Tiu Laurel said after conferring with the President.
The import suspension, which began on September 1 and is set to end on November 2, was initially imposed to help farmers recover from falling palay prices triggered by a surge in cheaper imported rice.
Palay prices briefly rose from a low of P8 a kilo to around P14 per kilo before dropping again due to the onset of the main harvest and impact on palay quality of the heavy rains linked to La Niña.
