The government has undertaken measures to keep rice prices stable and secure sufficient supply, as the country prepares to enforce a 60-day ban on rice imports starting next month, Malacañang said on Wednesday.

Palace Press Officer Claire Castro said the Department of Agriculture (DA) will implement strict price monitoring to protect consumers from sudden price hikes during the import ban period.

Castro added that there is an active coordination between the DA and key stakeholders, including farmers, millers, and traders, to prevent price manipulation in the rice market.

“Ayon po sa DA, nakausap po natin, ay magkakaroon sila ng price monitoring (We spoke to the DA and according to the agency, it will have a price monitoring) to enforce the maximum suggested retail price,” she said in a Palace press briefing.

Castro also assured the public that there is an adequate supply of rice, noting that the DA is conducting weekly monitoring of buffer stock, complemented by the start of the harvest season.

“So, with that, nakikita po natin na tama po ang supply ng bigas sa atin mula sa local farmers, so wala pong masyadong iniisip na magiging problema ang DA patungkol sa supply ng bigas (we see that the supply of rice from local farmers is sufficient. The DA does not anticipate any major issues regarding rice supply,” Castro said.

Castro said the DA will also release 1.2 million bags, or up to 100,000 metric tons (MT) of local rice through an auction this week, with a floor price expected to range between PHP25 and PHP28.

“Layunin din ng auction na paluwagin ang mga bodega para makapag-imbak pa ng karagdagang suplay ng bigas. Ibig sabihin, maganda ang ani ng ating mga magsasaka (The auction also aims to free up warehouse space to allow for the storage of additional rice supplies. This means that our farmers have a good harvest),” she said.

Castro added that another 100,000 MT of rice will be released to expand the administration’s “Benteng Bigas Meron (BBM) Na” Program and help stabilize the prices in the market.

President Ferdinand R. Marcos Jr. earlier approved the DA’s recommendation to implement an import ban from September to October, considering the country’s high volume of rice stock inventory.

Exempted from the ban are specialty rice varieties, such as Japanese, black, and basmati rice.

The move is seen to protect local farmers from plunging farmgate prices during the wet harvest, which peaks in October.

The DA projects at least 11 million MT of harvest for the wet season, which is set to peak from October to November. (PNA)