The Philippine Department of Agriculture (DA) plans to impose a price ceiling on imported rice, citing rising input and freight costs linked to the ongoing US-Iran war.
The DA is considering a price cap of around 50 pesos/kg ($837/t) for imported rice to keep retail prices affordable, it said on 17 March. Agriculture secretary Francisco Tiu Laurel Jr has indicated that this proposal may be submitted to Philippine president Ferdinand Marcos Jr for approval.
Continued disruption to vessel movements through the strait of Hormuz has pushed oil prices higher, boosting freight rates and increasing the cost of key agricultural inputs, including fertilizer and fuel.
A similar price ceiling on domestically produced rice is unlikely, because this could depress prices during the current harvest and weigh on farmers' margins.
The Philippines had previously imposed a temporary ban on rice imports from 1 September 2025 for an initial 60-day period, which was later extended until 31 December. The move followed a decline in domestic rice prices, driven by an influx of lower-priced imports that weighed on the local market. The ban was not extended beyond 31 December, although import taxes were raised and adjusted in line with prevailing market conditions.
The DA has also formed a task force on 11 March to monitor domestic fertilizer prices and supply, because prices have continued to rise in the wake of the war. Current measures under consideration include greater use of organic fertilizers, government-to-government (G2G) partnerships, and targeted cash subsidies.
Domestic fertilizer prices have also edged higher, with 50kg bagged urea indicated at 1,600-1,889 pesos/bag, while NPK 14-14-14 is around 1,638 pesos/bag, according to the Philippine Fertilizer and Pesticide Authority.
Meanwhile, latest offers for granular urea into the Philippines were heard at around $800/t cfr, according to importers, tracking higher international urea prices.
