Food emergency for rice proposed

The National Price Coordinating Council (NPCC) has urged the Department of Agriculture (DA) to declare a food security crisis for rice following the approval of a resolution aimed at stabilizing domestic prices. Trade Secretary and NPCC Chairman Cristina Roque stated that the resolution would allow the National Food Authority (NFA) to release its buffer stocks into circulation, a move expected to help regulate rice prices while also benefiting Filipino farmers.

Agriculture Secretary Francisco Tiu Laurel Jr. welcomed the initiative, highlighting its alignment with the DA’s efforts to keep rice affordable while ensuring farmers remain profitable. As part of these efforts, the DA has set a maximum suggested retail price (MSRP) of P58 per kilo for imported rice, which will take effect on January 20, 2024.

During a recent council meeting, the NPCC stressed the urgency of addressing price fluctuations to protect consumers and support farmers. The government reaffirmed its commitment to balancing food security with sustainability in the agricultural sector. Roque reiterated the Department of Trade and Industry’s (DTI) full support for the DA’s initiatives to lower rice prices, stating that the DTI would assist in monitoring and enforcing the price regulations.

Under the Rice Tariffication Law (RTL), the NFA is restricted from controlling the rice trade or selling directly to consumers. Instead, its role is to purchase palay (unhusked rice) from local farmers and maintain national buffer stocks. However, declaring a food security emergency would allow the NFA to distribute its reserves and sell rice directly to the public.

Currently, the NFA holds 300,000 metric tons (MT) of rice in reserve, and releasing these stocks could help lower market prices. This move would also free up storage space, enabling the agency to purchase more palay from local farmers during the next harvest season.

Tiu Laurel emphasized that rice prices impact inflation and influence the Bangko Sentral ng Pilipinas (BSP)’s interest rate policies. Since rice accounts for 10 percent of an average Filipino household’s budget—and up to 20 percent for lower-income families—the DA remains focused on reducing retail prices to protect consumers.

Link Source: https://www.manilatimes.net/2025/01/17/news/food-emergency-for-rice-proposed/2040230