The government is unlikely to extend the 60-day suspension on rice imports, Finance Secretary Ralph Recto said Monday.

“The only reason for the suspension essentially is because it’s harvest season,” Recto said at the sidelines of the 2025 Economic Journalists Association of the Philippines Economic Forum.

Last week, President Ferdinand R. Marcos Jr. ordered a 60-day suspension of all rice importation starting Sept. 1, 2025, to protect local farmers during the peak of the harvest season.

The temporary suspension aims to help stabilize local palay prices and ensure farmers are not undercut by the influx of cheaper imported rice.

Recto said he does not expect big revenue losses from the temporary suspension of imports.

“On that issue, I don’t expect much revenue loss because if our deficit is 4.6 million metric tons, so maybe there will be suspension for 60 days, we probably already imported the 4.6 million metric tons, or maybe at the end of the year after the harvest season, you probably will import the balance,” he said. (PNA)