Govt steps up rice supply, sets import ban

The Philippine government is taking steps to stabilize rice prices and ensure adequate supply ahead of a 60-day import ban starting next month.

Palace Press Officer Claire Castro stated that the Department of Agriculture will monitor prices closely to prevent sudden price increases during the ban period.

Castro also noted active coordination between the DA, farmers, millers, and traders to maintain market stability and prevent price manipulation.

The DA plans to release 1.2 million bags of local rice through an auction this week with a floor price ranging from PHP25 to PHP28 per kilogram.

President Ferdinand R. Marcos Jr. approved the import ban recommendation for September and October, exempting specialty rice varieties such as Japanese, black, and basmati rice.

The DA anticipates at least 11 million metric tons of harvest during the wet season from October to November, aiming to protect local farmers from low farmgate prices.