MANILA – The Philippines will suspend rice imports for 60 days from Sept 1 to help local farmers, a move that could further pressure global prices as the top buyer of the grain pulls back from the market.
President Ferdinand Marcos Jr issued the order to protect farmers reeling from low padi prices during the harvest currently under way, Press Secretary Dave Gomez said in a statement on Aug 6.
The announcement comes after Agriculture Secretary Francisco Tiu Laurel Jr pushed for a temporary halt in imports of the national staple, as well as an increase in rice import tariffs.
He has said an influx of imported rice is hurting local producers and may force millers to shut operations.
The move marks a turnaround from earlier in 2025 when the Philippines declared a food security emergency, citing an “extraordinary” rise in local rice prices that was fanning inflation.
Supplies have since improved, cooling costs of the crop that accounts for about a tenth of the consumer price basket.
Manila’s measure may add to a global surplus that has already pulled Asia’s benchmark rice price to an eight-year low.
The Philippines was projected to buy 5.4 million tonnes of rice in the 2025-26 season, topping purchases from other major importers like Vietnam and Nigeria, the US Department of Agriculture forecast in July.
On Aug 6, Agriculture Assistant Secretary Arnel de Mesa said the 60-day suspension period covers the country’s peak harvest season, when domestic supplies are adequate.
Output of padi, usually planted twice a year, reached 9.08 million tonnes in the first half of 2025. The government is targeting to produce a record 20.46 million tonnes for the full year.
The president said it is not yet time to discuss tariff increases on imported rice, according to Mr Gomez.
“We will still see if we need to resort to that,” he said.
The government in 2024 cut the import duty on rice to 15 per cent from 35 per cent until 2028 in a bid to tame inflation.
Rice prices in the Philippines dropped by a record 15.9 per cent in July. BLOOMBERG
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