Over 101,000 MT of Imported Rice Arrives in PH Under Lowered Tariffs

MANILA – The Department of Agriculture (DA) announced the arrival of over 101,000 metric tons (MT) of imported rice as of July 25, following the implementation of Executive Order No. 62, which reduced tariffs on imported rice from 35% to 15% on July 5. This measure aims to lower retail rice prices by PHP 6 to PHP 7 per kilogram.

Increased Rice Imports

DA Assistant Secretary Arnel de Mesa shared that from January to the third week of July, rice imports have reached 2.4 million MT, surpassing the import levels of the same period last year. This increase in imports supports a stable supply of rice in the country, complementing local palay production during the dry harvest season.

According to the Philippine Statistics Authority (PSA), the Philippines produced over 8.53 million MT of rice in the first half of the year. Additionally, the National Food Authority (NFA) has secured 3.5 million bags of palay for the national rice buffer stock during the dry harvest season.

Stable Rice Supply Amidst Challenges

Despite challenges such as the enhanced southwest monsoon, Super Typhoon Carina, and the looming La Niña, the DA remains confident in the country’s rice inventory. De Mesa mentioned that the rice sector incurred around 10,639 MT of volume loss amounting to PHP 635.17 million, which is within the annual projected losses due to natural calamities (500,000 MT to 600,000 MT).

Current Rice Prices

The DA assured that there is no reason for a hike in rice retail prices due to the stable supply. As of July 31, the prevailing price range for local regular-milled rice in Metro Manila is PHP 45/kg to PHP 50/kg, while local well-milled rice is priced at PHP 48/kg to PHP 55/kg. For imported rice, regular-milled rice is priced at PHP 47/kg to PHP 48/kg, and well-milled rice at PHP 51/kg to PHP 53/kg.

Conclusion

The influx of imported rice, combined with strong local production and strategic procurement by the NFA, positions the Philippines to maintain a stable rice supply and moderate prices despite various challenges. The DA’s proactive measures, including the tariff reduction, play a crucial role in ensuring food security and affordability for Filipino consumers.