Agriculture Department Plans to Release NFA Rice Reserves to Combat Rising Prices

The Department of Agriculture (DA) in Manila is preparing to distribute 150,000 metric tons of rice from the National Food Authority (NFA) reserves to tackle soaring rice prices and safeguard against food security crises. The initiative, announced in a recent press release, will see the distribution of approximately three million 50-kilogram bags of rice over a six-month period, targeting regions hardest hit by price increases. Additionally, the DA plans to buy palay at a rate of PHP23 per kilogram in the upcoming months, coinciding with the rice harvest season that begins in mid-February. NFA Administrator Larry Lacson emphasized that this strategy of releasing about 30,000 metric tons of rice each month would not only help in controlling high rice prices but also ensure that NFA warehouses are ready for the forthcoming palay procurement season. Despite this distribution, Lacson confirmed that the NFA would keep adequate buffer stocks for emergency situations. This action comes after the government decided to lower rice tariffs from 35 percent to 15 percent in July 2024, following a directive from President Ferdinand Marcos Jr.