DA declares rice food security emergency, NFA to release stocks at P33 per kilo

The Philippine Department of Agriculture (DA) has declared a food security emergency on rice due to escalating prices, despite no shortage being reported.

Under this declaration, the National Food Authority (NFA) will release its rice buffer stocks at P33 per kilo for local government units and other authorized entities to sell in the market, generating expected losses of up to P2.2 billion for the government.

Approximately 150,000 metric tons of NFA's well-milled rice stock is set to be released within six months, with the current selling price lower than the initially proposed P35 per kilo.

The DA anticipates that this move will influence private traders to lower their prices as well, but concerns remain about whether they will follow suit given the government’s expected financial losses.

Former senator Francis 'Kiko' Pangilinan suggests that an intensified campaign against smugglers and traders exploiting the situation is necessary alongside the food emergency declaration for it to be effective.

The DA's decision follows recommendations by the National Price Coordinating Council (NPCC) which noted an extraordinary increase in rice prices, even after cost reductions and lower tariffs on imported rice were implemented.