Philippines Declares Food Security Emergency to Stabilize Rice Prices

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On February 3, 2025, the Philippines declared a food security emergency to address persistently high rice prices, despite global price declines and previous tariff reductions. Agriculture Secretary Francisco Tiu Laurel announced that the emergency status would remain in effect until retail rice prices stabilize. This declaration empowers the National Food Authority (NFA) to release up to 150,000 metric tons of its 300,000 metric tons buffer stock over the next six months, aiming to alleviate market pressures. 

Background and Rationale

The decision follows a resolution from the National Price Coordinating Council (NPCC), which urged the Department of Agriculture (DA) to declare a food security emergency for rice. Trade and Industry Secretary Ma. Cristina Roque, who chairs the NPCC, emphasized that releasing buffer stocks would help stabilize local prices and support Filipino farmers by replacing released stocks with locally produced rice. 

Secretary Laurel welcomed the NPCC's resolution, describing it as a critical move to address rice affordability. He highlighted the broader economic benefits of affordable rice prices, noting their impact on inflation and the Bangko Sentral ng Pilipinas’ interest rate policies. "Even if you don’t eat rice, lower rice prices help stabilize our economy," he stated. 

Impact on Consumers and Farmers

Rice is a staple food in the Philippines, accounting for nearly 10% of Filipino household budgets, and up to 20% for poorer families. The government's intervention aims to protect consumers from high prices while ensuring that farmers receive fair compensation for their produce. The NFA's release of buffer stocks is expected to decongest warehouses in preparation for the upcoming harvest season, facilitating the procurement of palay from local farmers. 

Future Outlook

The DA has set ambitious goals for 2025 to boost food security and support farmers. These include achieving a record rice harvest of 20.46 million metric tons and improving logistics for perishable goods like vegetables and fruits. Secretary Laurel emphasized the importance of bold action to secure food supply chains and protect farmers, fisherfolk, and consumers. 

While the immediate focus is on stabilizing rice prices, the government remains committed to long-term strategies to enhance agricultural productivity and ensure food security for all Filipinos.

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