Marcos extends rice import ban through year-end to support farmers – BusinessWorld Online
Philippine President Ferdinand R. Marcos, Jr. has approved an extension of the country’s rice import ban until year-end to help stabilize farmgate prices for unfilled rice, Agriculture Secretary Francisco P. Tiu Laurel, Jr. said on Sunday.
An executive order formalizing the decision would be issued on Nov. 3, he said in a statement.
“With the import ban having little impact on retail prices and supply of rice but a significant effect on the farmgate price of palay, President Marcos deemed it necessary to extend the suspension for two more months,” he added.
Palace Press Officer Clarissa A. Castro did not immediately reply to a Viber message when asked for confirmation.
The administration first imposed the import halt in September to counter falling palay prices ahead of the wet harvest season. Prices briefly improved after the suspension but began easing again as the policy neared its Oct. 31 expiry.
The Agriculture chief said the extended ban, coupled with assistance to farmers and fisherfolk and the implementation of a floor price for palay, would provide continued relief to rice farmers as harvests proceed across several regions. — Chloe Mari A. Hufana