DA warns retailers against raising rice prices amid import ban

The Department of Agriculture (DA) on Monday advised retailers not to raise rice prices due to the impending 60-day ban on rice importation and reiterated this stance Thursday.

During a joint inspection by the DA and DTI at Quinta Market in Manila, a PHP2 per kilogram increase was observed in retail prices for imported rice.

Agriculture Secretary Francisco Tiu Laurel Jr. reminded retailers to follow the suggested maximum retail price of PHP43 per kg for 5 percent broken imported rice and pledged to monitor supply and market dynamics closely throughout the ban period.

DA spokesperson Assistant Secretary Arnel de Mesa emphasized that the country has sufficient stock of rice, with nationwide rice stocks as of July 1 standing at 2.815 million metric tons and noted a record palay (unhusked rice) harvest during the first half of the year.

De Mesa stressed that recent price increases appear to be driven by speculation rather than actual supply shortages, while Laurel Jr. said the ban may be shortened or extended based on market conditions and wet harvest outcomes.