DA declares food security emergency amid soaring rice prices

National

THE Department of Agriculture (DA) has declared a food security emergency in response to the “extraordinary” surge in local rice prices.

DA Secretary Francisco Tiu Laurel Jr. on Monday, February 3, issued a Department Circular No. 03 aimed to stabilize the market by allowing the National Food Authority (NFA) to release buffer stocks of rice to keep prices under control.

The food security emergency will remain in effect until lifted or withdrawn by the Secretary, with reviews conducted every four months.

The decision follows concerns over consistently high retail rice prices despite global rice price declines and a reduction in rice tariff rates from 35% to 15% in July 2023.

According to the National Price Coordinating Council (NPCC), which recommended the declaration, rice inflation reached an alarming 17.9% in September 2023, far exceeding the government’s target of 4% for food inflation.

This marks a significant rise from the 4.2% rice inflation recorded in July 2023.

Prices for regular and well-milled rice were still up by 19% and 20%, respectively, in December 2023, compared to levels before the price hikes in July.

The DA emphasized that rice, a staple food for millions of Filipinos, must remain accessible to consumers.

This emergency declaration was made based on the recommendation of the NPCC, which highlighted the extraordinary rise in rice prices, reaching double digits.

The amended Rice Tariffication Law empowers the Agriculture Secretary to declare such emergencies in the event of a supply shortage or significant price increases.(CMM)