The Ministry of Agriculture (Da) stated on Monday an emergency for food security about rice, the last effort of the government to lower the costs of the staple.
“This emergency makes us able to release rice buffer shares of the National Food Authority to stabilize prices and to ensure that rice, a basic food for millions of Filipinos, remains accessible to consumers,” Secretary of Agriculture Francisco P. Tiu -Laurel, Jr. said in a statement.
The DA mentioned the “extraordinary” rise in local rice prices despite the decrease in global prices and the reduction in rates last July.
Last month, the National Price Coordinating Council approved the resolution and urged the DA to explain an emergency for food security for rice.
Under Republic ACT No. 12708 or the agricultural TarifFICATION ACT, the agricultural secretary can explain an emergency for food security in the event of shortages of rice facility or extraordinary prize peaks.
According to an emergency for food security, the NFA would release its rice buffer stock to government agencies, local government units and the Kadiwa NG Pangulo program.
“The NFA currently has a buffer stock of approximately 300,000 tons of rice, half of which could be released in the coming six months to guarantee sufficient delivery for emergency situations and disaster response,” said the DA.
“The NFA can, if necessary, increase this volume, since it is preparing to start with Palay -purchasing in the coming weeks,” it added.
The Department said that the emergency situation for food security “will remain in force until the situation improves”, and adds that it will regularly revise the situation.
Last week the NFA said that it would release approximately 150,000 MT rice stocks for a period of six months or 30,000 MT per month, so that the NFA warehouses can free up space during the incoming harvesting season.
President Ferdinand R. Marcos, Jr. Last year gave Executive Order no. 62 issued, which reduced the rates for the import of rice to 15% until 2028. This was aimed at lowering rice prices and taminflation.
According to the price monitoring of the DA of Metro Manila Markets from 1 February, a pound of imported special rice was priced between P52 and P61, compared to the P57 and P65 per kilo a year ago.
The price of imported premium rice was on P51-P58 per kilo from February 14 from 14 February of P54-P62 per kilo last year.
On the other hand, imported well -made rice is currently between P40 and P52 per kilo, while imported normal ground rice is on P38 to P48 per kilo. – Ahhalili