Philippines imposes temporary ban on rice imports
The Philippines government is imposing a temporary ban on rice imports. It will go into effect on September 1 and will be in place for 60 days. The decision was made to protect local producers during the harvest season.
When asked about a possible change in rice import tariffs, the Philippine presidential communications secretary said it was “not the time to discuss the issue,” state news agency PNA reported.
The Philippines imported a record 4.8 million tonnes of rice in 2024, mainly from Vietnam and Thailand.
In the second quarter, agricultural production increased by 5.7% from the same period last year to 437.53 million pesos ($7.6 million). Rice production increased by 13.9%.
The fall in rice prices has allowed the country to slow inflation to a nearly six-year low. In July, the indicator was just 0.9% after the Philippine authorities declared a state of emergency on food security, Reuters reminds.
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