THE National Food Authority (NFA) is preparing to release 150,000 metric tons (MT) of rice from its buffer stock in the event of a declared national food security emergency, according to the Department of Agriculture (DA) on Wednesday.
The NFA plans to distribute an estimated 3 million sacks of rice, weighing 50 kilograms each, over a six-month period, prioritizing areas with high rice prices. Additionally, the agency will purchase palay (unmilled rice) at P23 per kilogram in the coming months, coinciding with the start of the harvest season in mid-February.
NFA Administrator Larry Lacson stated that the monthly release of 30,000 MT of rice will help lower rice prices and enable the NFA to purchase newly harvested palay. In line with its mandate, the NFA is required to maintain a 15-day buffer stock, primarily sourced from local farmers.
According to DA monitoring, rice prices in Metro Manila from January 20 to 25, 2025, ranged from P41.65 to P59.18 per kilogram, despite the reduction of tariffs on imported rice from 35% to 15% last year.
A national food security emergency declaration is expected this week, following a delay from the initially anticipated announcement on January 22. The National Price Coordinating Council previously approved a resolution urging the DA to make the declaration due to persistent rice price increases.
In early January, the DA set a maximum suggested retail price (MSRP) of P58 per kilogram for premium imported rice. This price may be lowered next month, depending on global rice prices.
metrosundaily
