AGRICULTURE Secretary Francisco P. Tiu Laurel Jr. said yesterday that the Department of Agriculture (DA) is withholding its plan to lower the maximum suggested retail price (MSRP) of imported rice.
This as Speaker Ferdinand Martin Romualdez expressed full support for the Department of Agriculture’s (DA) proposal to overhaul the National Food Authority (NFA) to bring down rice prices, help farmers, and stabilize the country’s food supply system.
“We’ll likely delay the rollout by a month or two to gain a clearer picture of where global prices are heading,” Laurel said.
The DA had initially intended to reduce retail prices for five-percent broken imported rice from P45 to P43 per kilo starting July 1.
Laurel cited increased geopolitical risks following the United States’ airstrikes on three nuclear sites in Iran, with the possibility of the conflict could expand further across the region. The Middle East is a key source of the world’s oil supply.
While crude oil is not directly used in fertilizer production, natural gas—a byproduct of oil refining—is vital for making ammonia, a core component of nitrogen-based fertilizers.
Higher oil prices also translate to costlier transportation for fertilizers and other farm inputs.
Global oil prices have climbed in recent days, fueled by Iran’s threat to close the Strait of Hormuz which is a strategic chokepoint for global crude shipments.
Despite this, the DA is still pushing ahead with plans to set an MSRP for imported pork by August, though final pricing will depend on market conditions closer to the implementation date.
“The market is extremely fluid. Any forecast I make now might not be accurate even an hour later,” Laurel said.
He warned that rising oil prices could trigger a ripple effect across the agriculture sector.
Fisherfolk are already grappling with more expensive fuel, and while farmers are currently buffered by DA-procured fertilizer stocks, input costs could spike next planting season.
Elevated freight charges are also expected to drive up prices of imported food products.
Meanwhile the DA’s proposal, which was formally submitted to Malacañang last week, seeks to restore the NFA’s power to directly intervene in the rice market, especially by buying palay at competitive prices and maintaining buffer stocks to temper price spikes.
The measure also envisions a reorganized NFA with a clearer mandate to support Filipino farmers and protect consumers, Speaker Romualdez said
He said the House will immediately act on the proposed bill once it is transmitted to Congress, citing strong public demand for reforms in the rice industry amid persistent food inflation.
“This proposal speaks to the unity of purpose among members of the House majority coalition: to prioritize the needs of ordinary Filipinos, especially the farmers who feed our nation and the consumers who struggle with rising food prices,” Romualdez said.
“The ordinary Filipino family suffers the most with the high cost of rice. The good news is that the administration of President Ferdinand R. Marcos Jr. is doing everything in its power to address this, and this NFA revamp bill is one way to lower food prices, empower farmers, and protect our consumers,” he added.
Under the proposal, the NFA will be empowered to purchase palay at fair farmgate prices and maintain a more robust buffer stocking system, allowing it to step in when prices spike due to calamities, hoarding, or market manipulation.
The draft bill also includes provisions for price supports, post-harvest facilities, and better coordination between the NFA and local governments, which the Speaker said will help ensure stable food supplies at the community level.
The bill is in line with the Marcos administration’s Bagong Pilipinas governance framework, which aims to deliver whole-of-government responses to inflation, poverty, and supply chain vulnerabilities.
Romualdez reiterated that the House supermajority is fully behind the push to pass the measure as soon as possible: “We will not allow politics to get in the way of protecting the public. In unity with the Executive, we will move quickly and decisively to pass a measure that helps both ends of the supply chain.”
