The Philippines’ Department of Agriculture (DA) has declared a food security emergency for rice in response to a sharp increase in domestic rice prices.

MANILA: The Philippines' Department of Agriculture (DA) on Tuesday (Feb 4) announced its plan to reduce the maximum suggested retail price (MSRP) of imported rice to 55 pesos (0.94 U.S. dollars) per kg from 58 pesos (0.

Losses of up to P2.25 billion will be absorbed by the government due to the sale of subsidized rice in the market during the state of food security emergency, but officials maintained the measure is necessary to influence prevailing retail prices that have remained exorbitant.

The food security emergency declaration grants the Department of Agriculture the authority to instruct the National Food Authority to distribute buffer stocks to government agencies and local units. This measure aims to curb rising rice prices and shield consumers from further increases.

Emergency declaration will help government release buffer stocks to bring down prices, says official - Anadolu Ajansı

The Philippines, among the world's largest rice importers, declared on Monday a food security emergency to bring down the cost of rice, which it said has stayed elevated despite lower global prices and a reduction in rice tariffs last year.

The Philippines yesterday declared a food security emergency in order to bring down the price of rice, which officials said have remained high despite last year’s cuts to the tariffs on imported rice.

The Philippines on Monday declared a food security emergency to bring down rice prices, which officials said have remained high despite hefty tariff cuts.

The annual rate of increase in rice prices hit a 15-year high in 2024. The Philippines is among the world’s largest rice importers.