Philippines "closes the door" on imports by the end of 2025, new undercurrent with Vietnamese rice

The Philippine agriculture sector reported that the executive order officially extending the suspension of import orders was issued on November 3. Agriculture Secretary Tiu Laurel added, "Since the import ban has had little impact on retail prices and rice supply but has significantly affected farm rice prices, President Marcos believes that the ban needs to be extended for another two months." Initially, the Philippine President had suspended rice imports for two months, until October 31, to respond to the sharp drop in rice prices before the rainy season harvest. Although this measure helped rice prices rise in the short term, the upward trend slowed as the suspension order neared its expiration. Given this development, combined with the ongoing new rice harvest in some areas, the import ban was extended. The Philippine government will simultaneously implement the Sagip Saka program and set a floor price for rice to support struggling rice farmers. During a previous Senate ...