MANILA, Sept. 20 (Xinhua) -- The Philippines is considering extending its rice import suspension by 15 to 30 days as farmgate prices of palay, or unhusked rice, improve, Agriculture Secretary Francisco Tiu Laurel said Friday.
Philippine President Ferdinand Romualdez Marcos earlier imposed a 60-day ban from September to October to protect local farmers during the peak harvest season.
Laurel said the Department of Agriculture will recommend to Marcos by the end of September whether to prolong the moratorium. "Pending data validation, I am now inclined to recommend that he extend the ban for at least 15 to 30 days," he added.
According to preliminary data, wet palay prices rose from as low as 8-10 pesos (0.14-0.17 U.S. dollars) per kilo before the ban to 17 pesos (0.29 dollars) in some parts of Mindanao, and 13-14 pesos (0.22-0.24 dollars) in major rice-growing provinces.
The cost of producing a kilo of palay is estimated at 12-14 pesos (0.21-0.24 dollars), Laurel said. ■
