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CONSUMERS will soon be able to buy rice at P35 per kilo with the declaration of a food security emergency, the National Food Authority (NFA) announced on Tuesday, February 4, 2025.

In a press conference, NFA Department Manager Roy Untiveros said that following the declaration, they will be releasing well-milled rice stocks of up to three months old to local government units (LGUs), government-owned and -controlled corporations (GOCCs), and Kadiwa ng Pangulo (KNP) sites at P33 per kilo, which will be sold at P35 per kilo.

Untiveros said they will release 150,000 metric tons of rice within six months, and this would mean a P2.25 billion worth of losses to the agency.

“Hopefully, ito po ay magkaroon ng epekto sa pagbaba ng presyo ng bigas sa ngayon,” he said.

(Hopefully, this will have an effect on lowering the price of rice.)

As of February 1, rice prices in Metro Manila ranged from P41.24 to P59.14 per kilo.

Meanwhile, the Department of Agriculture (DA) is eyeing to bring down the maximum suggested retail price of imported rice from P58 to P55 per kilo in a bid to provide a much-needed relief to consumers struggling with the high cost of the food staple.

In a statement, Agriculture Secretary Francisco Tiu Laurel Jr. said they aim to reduce the price of rice from P55 per kilo to as low as P49 per kilo.

“After this reduction, we plan to lower it further to P52 a kilo by mid-February and then at P49 per kilo two weeks after. This should reflect the lower global prices of rice and the reduced tariff,” he said.

“This price reduction comes amid efforts by the DA to stabilize rice prices and alleviate inflationary pressures on basic commodities. The decision follows extensive consultations with rice industry stakeholders, including importers and retailers, to ensure that the price decrease will benefit consumers without negatively affecting the supply of rice,” he added.

On Monday, February 3, Laurel declared a food security emergency on rice amid the “extraordinary” increase in prices of grains, which has persisted despite lower global market costs and a reduction in tariffs from 35 percent to 15 percent in July.

The declaration will allow the NFA to release rice buffer stocks in order to stabilize prices and ensure that rice remains accessible to consumers. (TPM/SunStar Philippines)

Source : sunstar