The largest importer of rice in the world. The Philippines plans to expand the import ban

The Philippines plans to expand the ban on rice imports on a larger scale until April, with the aim of supporting farmers in the world’s largest country’s import country, in a move that can increase the pressure on world prices. The Philippines, the country in Southeast Asia, intends not to allow the upcoming consignments for about one month in January, when you have to import at least 300,000 tonnes of rice from abroad on Monday, according to Minister of Agriculture, Francisco Tio Laurel, for lawmakers at a session in the house of representatives. The import ban, which was supposed to last only 60 days, began on September 1st. Extension of the rice import embargo is aimed at being inclined to expand to protect local farmers, especially during the peak of the harvesting season, but at the world level, the move can contribute to the continuation of the plethora of supplies, and even a greater decrease in crop prices that are a basic food for people in Asia, and also Africa. Residents in different parts of Southeast Asia. Also read: The largest rice importer in the world is considering stopping the purchase. For this reason, the reference index of rice prices in Asia has dropped to the lowest level in eight years, with the support of the strong agricultural season in India, which is the largest exporter in the world. This is expected to rise global production as the United Nations Food and Agriculture Organization (FAO) expects production to reach a record level at 555.4 million tonnes during the 2025-2026 season, which will lead to a further increase in equities. Tio Laurel indicated that the import of the Philippines rice was 3.5 million tonnes at the end of September, an increase of 800,000 tonnes above the needs. Last month, the US Department of Agriculture expected Manila to import 5 million tonnes of rice during the 2025-2026 season, bypassing the purchases of major importing countries such as China.