Manila: 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.

According to Namibia Press Agency, Laurel indicated that the Department of Agriculture will make a recommendation to President Marcos by the end of September concerning the continuation of the moratorium. Laurel stated, "Pending data validation, I am now inclined to recommend that he extend the ban for at least 15 to 30 days."

Preliminary data shows that wet palay prices have increased 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. Laurel noted that the cost of producing a kilo of palay is estimated at 12-14 pesos (0.21-0.24 dollars).