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Bloomberg

Top Rice Importer Philippines May Halt Purchases to Help Farmers

The Philippines may temporarily suspend rice imports to support local farmers in the world's biggest buyer, potentially increasing the risk of expanding a global surplus. The Department of Agriculture has recommended the plan and also pushed for higher tariffs on imported rice, the Presidential Communications Office said in a statement on Monday, without providing a timeline or indicating when purchases might be suspended. The cabinet will discuss 'this urgent matter' with President Ferdinand Marcos Jr. on the sidelines of his state visit to India this week, it added.