Philippines Won't Extend Rice Price Cap as Market Prices Stabilize

The Department of Agriculture (DA) announced on Wednesday that it will no longer pursue the extension of the P50 per kilogram price cap on imported rice, citing the stabilization of retail rice prices. Many imported rice varieties are now being sold at prices lower than the P50 cap. "That's gone, that was stopped. It will no longer be pursued, because the price of rice has stabilized anyway," said DA spokesperson Arnel de Mesa in a press briefing. He added, "There is a lot of rice being sold now lower than ₱50. So there's no need to set [a price cap of] ₱50." The price cap was established through Executive Order 118, signed by President Ferdinand "Bongbong" Marcos Jr. on May 13, 2026, to mitigate rising food prices exacerbated by the Middle East crisis. The mandate imposed a 30-day nationwide price ceiling of ₱50 per kilogram on 5% broken imported rice, aiming to curb unreasonable price hikes, prevent market exploitation, and ensure steady, affordable access to rice. The DA had sought a further 60-day extension of the policy after its initial lapse. As of September 9, data from DA’s Bantay Presyo showed that premium imported rice in Metro Manila markets is mostly priced at P50 per kilo, with the highest reaching P60 per kilo. Meanwhile, regular milled imported rice is priced at P45 per kilo. Well-milled imported rice, on the other hand, ranges between P47 to P48 per kilo in Metro Manila markets. The Agriculture department had previously stated that the Philippines is not keen on imposing a ban on imported rice as the country prepares for the potential food supply impact of the strong El Niño later this year.