Senate President backs DA’s plan to lower rice prices

Senate President Francis Escudero on Monday supported the Department of Agriculture's (DA) plan to declare a national food security emergency to address rising food prices, particularly focusing on lowering rice prices.

Escudero emphasized in a Viber message to reporters that reducing rice prices is crucial as it significantly impacts overall inflation rates.

The DA's proposal would enable the National Food Authority (NFA) to release around 300,000 metric tons of rice stocks at below-market prices through local government units and Kadiwa stores starting Feb. 4.

However, the Federation of Free Farmers (FFF) has cautioned against the move, warning that it could harm local rice growers' earnings.

Escudero acknowledged these concerns and assured that adjustments would be made if necessary to address any unintended negative effects.

The government's initiative comes as inflation rises and consumers face increased food costs, highlighting the urgent need for measures to improve affordability.

Despite potential drawbacks, Escudero remains optimistic about finding a balanced approach to ensure both price stability and farmer welfare.