sure win ph DA declares food security emergency amid rising price of rice

MANILA, Philippines – Agriculture Secretary Francisco Tiu Laurel Jr. on Monday, February. 3 declared food security emergency to address the persistent “extraordinary” rise in the local price of rice.

“There is hereby declared a Food Security Emergency on Rice due to Extraordinary Increase in Prices,” Tiu Laurel said in Department Circular No. 03 on the emergency declaration.

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“This emergency declaration allows us to release rice buffer stocks held by the National Food Authority (NFA) to stabilize prices and ensure that rice, a staple food for millions of Filipinos, remains accessible to consumers,”  Tiu Laurel added.

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Per the Department of Agriculture’s issuance, the food security emergency will remain in effect “until lifted or withdrawn by the Secretary,” subject to review every four months.

The Department of Agriculture made this declaration as retail rice prices remained high despite the decline in global rice prices and reduction in rice tariff rates from 35 percent to 15 percent in July.

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This was based on the National Price Coordinating Council’s (NPCC) recommendation, which stated, “There is an extraordinary increase in price of rice when the rice inflation has exceeded the upper bound target for food inflation and reached double digits,”

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The NPCC cited data from the Philippine Statistics Authority (PSA) noting that rice inflation reached 17.9 percent in September 2023, exceeding the upper band of the government’s target of 4 percent for food inflation.

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The PSA reading is significantly higher than the rice inflation of 4.2 percent recorded July 2023.

The DA also noted that prices of regular and well-milled rice remain elevated, up by 19 percent and 20 percent, respectively, in December last year, compared to the period before the price spikes in July 2023.

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Under the amended Rice Tariffication Law, the agriculture secretary is authorized to declare a food security emergency on rice due to supply shortage or extraordinary increase in prices, as recommended by the NPCC. (with a report from Luisa Cabato / INQUIRER.net)

 

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