Agriculture secretary Francisco P. Tiu Laurel Jr. declared on Monday a food security emergency on rice through memorandum circular 03, following the
By approval from the National Price Coordinating Council .
The decision follows the NPCC’s assessment that despite declining global rice prices and import rice tariff reduction from 35 percent to 15 percent in July, local prices have remained stubbornly high. The cost of regular and well-milled rice rose by 19 percent and 20 percent, respectively, compared to the previous year. In July 2023, rice inflation was just 4.2 percent.
This allows the DA chief to direct the NFA, which is legally restricted from selling rice directly to the public, to release buffer stocks to government agencies, local government units, and the KADIWA ng Pangulo program.Currently, the NFA holds around 300,000 metric tons of rice in buffer stock, half of which could be released over the next six months to ensure adequate supply for emergencies and disaster response.
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