The country will halt the importation of rice at the start of next month.
According to Agriculture Secretary Francisco P. Tiu Laurel Jr., the maximum suggested retail price (MSRP) for imported rice will remain during the two-month suspension of rice imports recently ordered by President Ferdinand Marcos Jr. that will take in effect on September 1.
“We will maintain the MSRP even during the two-month rice import ban,” said Tiu Laurel. “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.”
The current MSRP for 5 percent broken imported rice was reduced to P43 per kilo from P45 on July 16, according to the Department of Agriculture (DA).
Marcos, in his pronouncement this month, said that this move is being done “to protect local farmers reeling from low palay prices during this current harvest season,” which sell for as low as PHP8 per kilo—far below production costs, even for the most efficient farmers.
Under the Rice Tariffication Law, President Marcos has the authority to halt rice imports in order to safeguard local farmers and stabilize market prices.
Meanwhile, Tiu Laurel added that the duration of the suspension may be shortened or extended depending on price movements and the outcome of the main harvest in the coming months.
As for specialty rice varieties, such as Japanese, black, and basmati rice, are all exempted from the ban.
The Department of Agriculture (DA) also said that “it remains prepared to adjust policies if supply tightens, while ensuring that both farmers and consumers receive fair prices.”