Philippines Declares Food Security Emergency Amid Rising Rice Prices
On February 3, 2025, Agriculture Secretary Francisco Tiu Laurel Jr. declared a food security emergency in the Philippines in response to the escalating prices of rice, a staple food for millions of Filipinos. This declaration empowers the National Food Authority (NFA) to release its buffer stocks to local government units, aiming to stabilize the market and make rice more affordable for consumers.
The decision to declare a food emergency was initially recommended by the National Price Coordinating Council (NPCC) in mid-January. However, bureaucratic delays postponed the formal declaration until early February. The Department of Agriculture (DA) emphasized the urgency of the situation, noting that the delay had prevented the timely distribution of NFA stocks, which could have alleviated the burden on consumers earlier.
Prior to this measure, the government had reduced tariffs on imported rice from 35% to 15% in an attempt to lower prices. Despite declining prices in the global market, domestic rice prices remained high, prompting the need for more direct intervention. The DA's declaration allows for the immediate release of NFA stocks, which is expected to increase supply and help reduce retail prices.
The DA has set a target to release NFA rice stocks by February 1, but the delay in the declaration pushed this timeline back. The NFA's warehouses have been overwhelmed with buffer stocks, and the timely release of these supplies is crucial, especially with the upcoming harvest season. The DA is also exploring additional measures to support rice farmers and ensure long-term stability in rice production and pricing.
This move underscores the government's commitment to addressing food security concerns and protecting consumers from the adverse effects of rising food prices. By leveraging existing resources and implementing strategic interventions, the DA aims to stabilize the rice market and ensure that this essential commodity remains accessible to all Filipinos.
Market Philippines - News Service
Market Philippines: Empowering small and medium-sized businesses with enhanced digital visibility. Our platform offers tailored solutions to boost your online presence, connecting you with customers in the ever-evolving digital landscape. Let us help you thrive in the competitive market.