Philippine President Ferdinand Marcos announced on August 6 this year that the Philippines will suspend rice imports for 60 days starting from September 1, 2025. The temporary suspension of rice imports is reportedly to help stabilize rice prices and protect local farmers from the impact of cheaper imported rice.
The television station reported: "Marcos has officially extended the ban on rice imports until the end of 2025 and has tasked the Department of Agriculture, the Department of Trade and Industry, and the Department of Economic, Planning and Development to organize a meeting within 30 days to assess the consequences of the suspension."
The report stated that the aforementioned agencies should also submit a joint recommendation to the President regarding the dates for extending and stopping the suspension of rice imports in the Philippines.
According to data from the Philippine Statistics Authority in September, due to the 60-day ban on rice imports in the Philippines, countries supplying rice to the Philippines may lose approximately $613 million. According to last year's results, the Philippines imported $2.52 billion worth of rice (4.8 million tons), making it the world's largest rice-buying country.