The Department of Agriculture (DA) will implement stricter market monitoring to ensure compliance with the price cap of ₱43 per kilo on imported rice during the import suspension. The agency warned that violators of the policy will be subject to penalties.
According to the DA, they have dispatched market teams to verify reports of excessive prices in markets. Agriculture Secretary Francisco Tiu Laurel Jr. said those caught overpricing will be issued a show cause order or summoned to explain.
Laurel added that the rice supply is still sufficient even if the suspension is extended. By the end of 2024, the country will have 1.2 million metric tons of surplus imported rice, and an additional 800,000 metric tons in the first nine months of 2025.
President Ferdinand Marcos Jr. is expected to extend the two-month import freeze until December to stabilize the price of rice after it dropped to ₱8 per kilo in some provinces due to oversupply and bad weather.
Although demand for imported rice has increased, Laurel said the price of imported rice should not increase above the suggested retail price of ₱43 per kilo.
