President Ferdinand Marcos Jr. has approved the extension of the rice import ban until the end of the year to support local producers and stabilize farmgate prices of palay, Agriculture Secretary Francisco P. Tiu Laurel Jr. announced Sunday.

Tiu Laurel said an Executive Order formalizing the move 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,” he said.

The President first halted rice imports in August for two months, aiming to counter the steep drop in palay prices during the wet harvest season. While the temporary measure helped lift farmgate prices, its effects faded as the 31 October deadline approached.

According to the Department of Agriculture (DA), domestic rice supply remains sufficient to cover demand even with an extended import suspension.

“Rice availability will remain adequate even under a 120-day import suspension,” Tiu Laurel said, citing DA projections that place year-end supply at 89 to 92 days, up from just 58 days at the end of 2024. The estimates are based on per capita consumption of 122.7 kilograms annually.

The agriculture chief 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.”

Tiu Laurel said the extension coincides with the rollout of the Sagip Saka program and the implementation of a floor price for palay, which aim to cushion farmers from low market prices and import competition. In a previous Senate hearing, he pointed to “over-importation and poor-quality harvests in some areas, worsened by bad weather,” as major factors behind depressed palay prices.

Despite the import suspension, retail rice prices have remained stable, according to DA’s Agribusiness and Marketing Assistance Service (AMAS). The agency projects that by November, well-milled rice will average around P42 per kilo, while regular-milled rice will hover near P40.

Tiu Laurel said the continued suspension would allow “a fuller evaluation of the ban’s impact on both farmgate and retail markets,” while shielding local farmers from the pressure of cheaper imports.