In a move to combat soaring rice prices, the Department of Agriculture (DA) in the Philippines is set to declare a food security emergency for rice on January 22. This decision follows a resolution passed by the National Price Coordinating Council last week, aimed at stabilizing the market and ensuring food availability.
DA spokesperson Assistant Secretary Arnel de Mesa announced that Agriculture Secretary Francisco Tiu Laurel Jr. is expected to make the declaration on Wednesday. The emergency measure is designed to allow the National Food Authority (NFA) to release its rice stocks to local government units and other government agencies, helping to manage retail prices.
Under the emergency declaration, the NFA will be able to sell its rice, including stocks that are not yet considered old, at a subsidized rate of PHP36 per kilogram to government entities. These entities can then sell the rice to the public at up to PHP38 per kilogram starting February 1. This initiative not only aims to reduce prices but also to clear space in NFA warehouses and support local farmers by procuring palay for the upcoming harvest season.
The NFA currently holds nearly 300,000 metric tons of rice, which can be distributed to various government bodies, including the Philippine National Police, the Armed Forces of the Philippines, and government-owned corporations. This strategic move is part of broader efforts to address the high cost of rice and ensure food security across the nation.