The Department of Agriculture (DA) has asked President Marcos to extend the temporary suspension of rice imports until the end of the year to help raise the prices of palay (unmilled rice) and protect farmers from further losses.

In a statement on Saturday, Nov. 1, Agriculture Secretary Francisco Tiu Laurel said he formally recommended extending the ban on foreign rice purchases by up to two months.

The initial suspension, set to end on Sunday, was imposed to curb the influx of imported rice, which has been largely blamed for the sharp drop in palay prices.

Tiu Laurel said the policy initially drove up prices in major producing provinces such as Isabela and Nueva Ecija, with palay rising to ₱14 per kilo from as low as ₱8 per kilo—well below the production cost of ₱12 to ₱14 per kilo.

However, he said its impact has since “tapered off” as the suspension nears expiry, with prices dropping from a peak of ₱16.50 per kilo to ₱13.50 per kilo.

“This demonstrates that while upward adjustments have been observed, farmgate prices remain volatile and the harvest is still underway across much of the country,” said Tiu Laurel.

Extending the import ban, he said, would protect farmers from downward price pressures and maintain market stability.

This is also expected to provide the government with the full picture of the policy’s impact on both farmgate and retail markets, potentially introducing new indicators such as warehouse inventories and trade flows for a better assessment.

As of Oct. 23, 3.29 million metric tons (MT) of rice shipments have entered the country, according to data from the Bureau of Plant Industry (BPI).

Agricultural groups earlier estimated that the country's 2.5 million rice farmers could lose as much as ₱43 billion this year due to the influx of cheaper imported rice.

Meanwhile, Tiu Laurel said consumers have nothing to worry about the potential extension of rice imports as retail prices have remained stable so far.

Based on the latest price index, the average prices for imported premium rice, well-milled rice, and regular milled rice are ₱49, ₱42, and ₱40 per kilo, respectively.

Meanwhile, the average price for local premium rice is ₱49 per kilo, well-milled at ₱42 per kilo, and regular milled at ₱37 per kilo.

Citing supply projections, Tiu Laurel said the availability of rice remains sufficient even if the suspension is extended until the end of the year.

“Conservative estimates show rice supply lasting 87 days by year-end, while the optimistic scenario projects 90 days,” he explained.

Last month, Tiu Laurel told lawmakers that if the import ban is extended to the end of the year, importation would then be allowed in January.

But, the suspension would be reimposed from February to April to stabilize supply in time for the dry season harvest.