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The Philippines may extend its rice import ban and raise tariffs to protect local farmers amid falling prices.
The Philippines may extend its two-month rice import ban beyond November 2 and raise tariffs on foreign rice, pending updated data on domestic palay supply and farm gate prices.
The suspension, started September 1, aims to support local farmers struggling with declining prices due to cheaper imports.
President Ferdinand Marcos directed the Department of Agriculture to prepare for an extension, with final decisions based on incoming agricultural data.
The move seeks to stabilize the domestic rice market and protect local producers.
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Filipinas podría extender su prohibición de importación de arroz y aumentar los aranceles para proteger a los agricultores locales en medio de la caída de los precios.