MANILA, Philippines, February 4 ------ The Department of Agriculture (DA) has declared a food security emergency in response to the rising cost of rice, which has reached P50 to P60 per kilo. Agriculture Secretary Francisco Tiu Laurel enforced the emergency through DA Circular No. 3, following weeks of planning and after the National Price Coordinating Council (NPCC) issued a resolution calling for the move.
A food security emergency allows for the release of buffer stocks from the National Food Authority (NFA) warehouses to local markets, with rice being sold at P38 per kilogram to consumers. This measure is backed by Republic Act 12708, or the Agricultural Tariffication Act, signed into law on December 9, 2024, to address supply shortages or “extraordinary cases” such as the rising rice prices.
According to the circular, the prices of regular milled rice and well-milled rice in December 2024 were about 19-20% higher than before the steep hike in July 2023. The DA aims to release 300,000 metric tons of rice to encourage competition among retailers, ultimately driving down prices. About 30,000 will be released monthly, which means this could mean a 10-month food security emergency on rice. The NFA will also replenish its stock by purchasing harvests from local farmers. On top of the food security emergency, the DA also plans to gradually lower the maximum suggested retail price or price cap on imported rice in Metro Manila markets, which is currently set at P58 per kilogram.
Starting February 5, imported rice will be capped at P55 per kilogram. The DA aims to reduce the price by P49 in March. The DA also stated that the formula used to determine an extraordinary increase in rice prices or supply shortages will be reviewed every four months by the NPCC.
As of February 1, the price range for rice per kilogram in Metro Manila markets is as follows:
Imported
- Special: P52 to P61
- Premium: P51 to P58
- Well-milled: P40 to P52
- Regular milled: P38 to P48
Local
- Special: P55 to P63
- Premium: P50 to P57
- Well-milled: P40 to P55
- Regular milled: P37 to P46
Source: philstar.com
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