FOOD SECURITY CRISIS: GOVERNMENT MULLS EMERGENCY DECLARATION

Agriculture Secretary Francisco Tiu Laurel announced that there is sufficient basis to declare a food security emergency due to the continued high rice prices, despite tariff reductions on imported rice.

He is awaiting a formal recommendation from the National Price Coordinating Council (NPCC) to proceed with the declaration, allowing the National Food Authority (NFA) to release its rice stocks to the market.

Laurel believes the emergency declaration is necessary to address the economic impact of high rice prices, which affect inflation and interest rate policies.

However, some groups, including the Federation of Free Farmers, argue that there is no need for an emergency declaration, citing the upcoming harvest and ongoing efforts to reduce prices.

In response to the high rice costs, the Department of Agriculture is implementing a maximum suggested retail price of P58 per kilo for imported rice, which will be reviewed monthly.
Source: PhilNews24 | January 17, 2025