(Manila, 29th) — The Philippine Department of Agriculture has announced that the government has decided to extend the current two-month rice import ban by at least 30 days, in order to alleviate the impact of falling palay (unmilled rice) buying prices on farmers.
Agriculture Secretary Laurel stated that this decision has already been approved by President Ferdinand Marcos Jr., and is aimed at safeguarding farmers' interests during the peak harvest period. He noted that if market conditions do not improve, the ban could even continue until the end of the year.
"It has been decided to extend the ban by at least 30 days, and an extension until year-end cannot be ruled out," Laurel said in an interview yesterday, emphasizing that this move has also gained support from some millers and rice traders.
It is reported that the buying price of palay has dropped from 14 pesos per kilogram to 8 pesos, and even as low as 6 pesos in some regions, mainly due to continuous heavy rains affecting farmers' ability to dry their harvests.
Laurel admitted that the situation is "worrying," and revealed that President Marcos Jr., together with the Department of Agriculture and the National Food Authority, has been continuously coordinating emergency actions since last weekend to quickly roll out relief measures.
The government has drafted several strategies, including banning government agencies from purchasing imported rice, carrying out emergency palay procurement, expanding National Food Authority warehouse rentals, and soon announcing a nationwide minimum palay buying price, to ensure farmers receive a fair return.
In addition, Laurel revealed that before the import ban ends, the current 15% tariff may be raised back to the original 35%, to further stabilize the market.