Marcos releases 100K tons of rice to stabilize supply

President Ferdinand 'Bongbong' Marcos Jr. has directed the release of approximately 100,000 metric tons of rice to stabilize supply and enhance food security in the country.

At a briefing, Palace Press Officer Undersecretary Atty. Claire Castro said that this week the Department of Agriculture (DA) will auction around 1.2 million bags of local rice through an initiative aimed at unloading government warehouses and ensuring additional capacity for future storage.

Castro also announced the release of an unspecified volume of rice to expand the 'Benteng Bigas, Mayroon na' program, which allows beneficiaries to purchase rice at P20 per kilo.

The government will continue monitoring rice prices to protect consumers and farmers from unscrupulous individuals who might exploit the situation.

In addition, the DA is consulting with farmers, millers, and traders to prevent price manipulation and maintain market stability in anticipation of a coming rice import ban.

Earlier this month, Marcos ordered the suspension of rice imports for 70 days starting September 1 to protect local farmers from low palay prices during the harvest season.