THE EXTENSION of the rice import ban until the end of 2025 is expected to further stabilize the price of palay or unhusked rice, the Department of Agriculture (DA) said on Monday, November 3.
President Ferdinand Marcos Jr. recently approved the extension of the rice import ban until the end of the year.
“Nakita na merong paggalaw sa presyo ng farmgate, dati-rati nasa P8-10, ngayon meron na P14-16 per kilo,” DA spokesperson Assistant Secretary Arnel de Mesa said.
De Mesa said they’re hoping palay prices will further go up with the extension of the rice import ban.
The agriculture spokesperson said this will not result in a shortage of supply as the country has more than enough locally-produced palay for the consumption needs of Filipinos.
“Isa na rin siguro ito sa pagkakataon na ‘yung ating mga kababayan, mas i-consume ang bigas na pino-produce ng ating mga magsasaka,” he said.
“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,” Tiu Laurel said.
The president initially suspended rice imports for two months, until October 31, to counter the sharp decline in palay prices ahead of the wet harvest season.
DA projections show that rice availability will remain adequate even under a 120-day import suspension.
Conservative estimates place supply at 89 days by year-end, while optimistic scenarios project up to 92 days, considering 122.7 kg/annum the projected per capita consumption compared with just 58 days’ worth of stocks at the end of 2024.
Despite the suspension, retail rice prices have remained stable, according to the DA’s Agribusiness and Marketing Assistance Service (AMAS).
The agency projects that by November, well-milled rice will average around P42 per kilo, while regular-milled rice will hover near P40.
Imports of cheaper rice have helped bring down prices of the staple, and push down the inflation rate this year. (ABS-CBN News)
