MANILA — The 60-day suspension of rice importation will not result in increased prices of rice, according to the Department of Economy, Planning, and Development.
DEPDev Secretary Arsenio Balisacan also assured the public that the country has enough rice supplies.
President Ferdinand Marcos Jr has ordered the suspension of rice importation during the harvest season beginning September 1, 2025. This was also recommended by Agriculture Secretary Francisco Tiu Laurel Jr.
Balisacan supports the move, saying the rice of price in the world market went down and too much imported rice may affect local farmers. He added that there will be enough rice supply, as weather bureau PAGASA forecasts no major weather development.
“We look at the total inventory of rice in the market, even if we suspend the importation during the harvest season from September to October, there will be enough supply. It’s not likely to cause increases in inflation,” Balisacan said.
He added that rice imports are still in the market and new shipments are still arriving. That’s coupled with an expected good harvest season. Inventory of rice is good for over 40 days. However, he added that they continue to monitor world developments that could affect rice.
“We have to keep watching and be vigilant because world prices can suddenly swell. We have to make sure our policy is flexible enough to address the changes,” he said.
Some rice importers earlier urged the government to come up with clearer guidelines on the measure, as some have already paid their suppliers.
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