MANILA – President Ferdinand R. Marcos Jr. has approved the extension of the rice import ban until the end of the year to help stabilize the farmgate price of palay, Agriculture Secretary Francisco P. Tiu Laurel Jr. announced Sunday.

Tiu Laurel said an Executive Order formalizing the extension of the import suspension will be released Monday.

“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 cushion the sharp decline in palay prices ahead of the wet harvest season. While the measure briefly lifted farmgate prices, the gains started to taper off as the suspension neared its expiry.

Tiu Laurel noted that with harvests still ongoing in several regions, the extended import ban—alongside the rollout of the Sagip Saka program and the establishment of a floor price for palay—would further support struggling rice farmers.

In an earlier Senate hearing, the agriculture chief said over-importation and poor harvest quality, compounded by adverse weather conditions, had pushed down farmgate prices in many provinces.

Department of Agriculture projections indicate that national rice availability will remain adequate even with a 120-day import suspension. Conservative estimates place supply at 89 days by year-end, while optimistic scenarios project up to 92 days, based on a per capita consumption of 122.7 kilograms annually—an improvement from just 58 days’ worth of stocks recorded at the end of 2024.

Tiu Laurel said he recommended the extension as “a necessary measure to provide sustained support to local producers, maintain market stability, and allow a more comprehensive assessment of the policy’s effects.”

Despite the import suspension, retail rice prices have remained broadly stable, according to the DA’s Agribusiness and Marketing Assistance Service (AMAS). The agency projects that by November, well-milled rice will average around ₱42 per kilo, while regular-milled rice will hover near ₱40 per kilo.

The agriculture chief added that the extension would enable a fuller evaluation of the import ban’s impact on both farmgate and retail markets while continuing to shield local farmers from the downward pressure of cheaper imported rice.