Agriculture stakeholders have welcomed the Department of Agriculture’s (DA) recommendation for a phased increase in rice import tariffs, with groups urging swift legislative action to address the sharp decline in palay prices and protect local farmers.
The Department of Agriculture has recommended that President Ferdinand Marcos Jr. increase tariffs on imported rice and temporarily suspend rice importation to protect local farmers.
Agriculture Secretary Francisco Tiu Laurel Jr. is backing President Ferdinand Marcos Jr.'s call to amend the Coconut Farmers and Industry Trust Fund Act, stressing the need to prioritize replanting to secure the future of the country’s top agricultural export.
The Philippines reported a 14 percent increase in pineapple exports in 2024, shipping around 680,000 metric tons (MT) compared to 600,000 MT in 2023, according to the UN Food and Agriculture Organization (FAO).
A newly signed joint memorandum circular (JMC) is seen catalyzing investments in agriculture, with the Department of Agriculture (DA) forecasting an expansion in agribusiness and rural development initiatives.