PBBM mulls extending rice import ban to year-end

President Ferdinand R. Marcos Jr. is considering extending the country's rice import ban until the end of the year to protect local farmers.

Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. stated there is a "big possibility" the ban will be extended, aligning with requests from rice millers and traders.

A decision on the extension was made during a meeting with the president last Friday, with a minimum of a 30-day extension possible, potentially lasting until year-end depending on the situation.

The extension aims to address the recent drop in palay prices, with farmers selling as low as P8 to P10 per kilo.

The DA is also considering an executive order to prohibit government entities from purchasing imported rice and may increase rice tariffs after the import ban is lifted.

This move follows a previous 60-day suspension of rice imports announced earlier to shield local farmers from cheaper imported rice.