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NFA rice rolls out next week
The National Food Authority (NFA) will begin releasing rice stocks to local government units (LGUs) by next week following the declaration of a food security emergency on February 4.
Agriculture Secretary Francisco Tiu Laurel Jr. stated that the release aims to stabilize prices and ensure the accessibility of rice, with over 50 LGUs nationwide having signified their intent to receive the rice.
The NFA will sell rice stocks at P33 per kilo, with LGUs reselling it at P35 per kilo.
The emergency declaration allows for the release of buffer stocks held by the NFA, and documentation processes are being finalized.
Meanwhile, Laurel mentioned that the NFA may recommend an increase in the tariff on imported rice once the price of the staple drops to P42 to P45 per kilo, potentially adjusting it from the current 15 percent.
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The Department of Agriculture declared a food security emergency for rice on Tuesday, February 4, 2025, to address extraordinary increases in local rice prices.
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Agriculture Secretary Francisco Tiu Laurel Jr. declared a food security emergency for rice on Monday, February 3, due to an extraordinary spike in rice prices.
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The National Food Authority (NFA) anticipates potential losses of up to P2.25 billion from selling its rice reserves to local government units (LGUs) during a declared food security emergency.
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The National Food Authority's (NFA) rice stock inventory experienced a significant surge of 485.1 percent in January compared to the previous year, reaching 284,810 metric tons.
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The Land Transportation Office (LTO) is providing assistance to cargo trucks transporting rice supplies nationwide following the declaration of a national food emergency on rice.
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