On December 26, 2024, Philippine Agriculture Secretary Francisco P. Tiu Laurel Jr. announced that brand labels on imported rice will be removed to prevent retailers and traders from manipulating prices and exploiting consumers. The move is aimed at cracking down on brand confusion to justify high prices. The "premium" and "special" labels for imported rice will also be removed. Locally produced rice will be exempted from the rule to protect national farmers.

Tiu Laurel stressed that importing rice is a privilege, not a right, and that import licenses will be withheld if traders do not comply. Government data show that a reasonable markup for imported rice is between 6 and 8 pesos per kilogram.Tiu Laurel is also considering activating a food security emergency that would allow government companies to compete directly with private importers and looking into activating the Consumer Prices Act to deal with profiteering. Although the government has reduced tariffs on rice from 35 percent to 15 percent, some brands are still priced high, sparking dissatisfaction among both the government and consumers. Tiu Laurel has suggested that the Department of Finance and the Department of Trade and Industry help monitor the market to ensure fair pricing.

For more details see: https://www.da.gov.ph/agriculture-chief-targets-rice-pricing-manipulation/