00:00President Ferdinand Marcos Jr. orders a 60-day suspension on all rice imports beginning September 1.
00:07This comes days after the Department of Agriculture Secretary Francisco Chu Laurel Jr. recommended the suspension to protect local farmers amid the harvest season.
00:15Laurel says the suspension is a calibrated action that gives the government flexibility to protect the interests of farmers and consumers.
00:22He says, quote, the stakes are high for both our farmers and the Filipino people, so it's crucial that we strike the right balance.
00:29Laurel had recommended reinstating the 35% tariff on rice imports from the current 15%.
00:34However, Marcos said it is not yet time to discuss raising the import duties since this helped temper rising prices last year.
00:41Data from the Philippine Statistics Authority showed that the country imported $215 million worth of rice as of April 2025.
00:48Meantime, average Farmgate Palai prices plunged to just 16.99 pesos per kilo in June, a 31.8% decrease.
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