Due to the declaration of a food security emergency, the National Food Authority (NFA) began releasing buffer stocks of rice to local governments on Wednesday, February 19, to lower the price which has already hit P60 per kilo.
The agency plans to release 25,000 metric tons of rice per month from a total stock of 300,000 metric tons. According to the Department of Agriculture (DA), the volume may be increased if necessary.
At the current rate of rice release, the stock may last up to a year, and the LGUs will sell it at P33 to P35 per kilo.
To replenish buffer stocks—which are used as reserves for relief operations and food security emergencies—the NFA buys from local farmers and cooperatives.
"With the P9 billion allocated by President Ferdinand Marcos Jr. for the purchase of rice by the NFA this year, and with the remaining funds from last year's record purchases, we aim buy more rice from farmers," according to the Secretary of Agriculture.
In 2024, the NFA bought clean and dry rice for P23 to P30 per kilo, while wet rice is at P17 per kilo—higher compared to the previous price of P16 to P23 per kilo.
Zamora, who is also chairman of the Metro Manila Council and co-chairman of the Regional Development Council, is in charge of the plans and programs regional development.
Si Zamora, na pangulo rin ng Metro Manila Council at co-chairman ng Regional Development Council, ang namamahala sa mga plano at programang pangkaunlaran sa rehiyon.
Rice Price in Metro Manila
Metro Manila is one of the regions affected by the high price of rice, so the DA implemented a gradual decrease in the maximum suggested retail price (SRP) of imported rice in the region. It targets to lower the price to P49 per kilo by March.
Beginning February 15, the price cap is set at P52 per kilo. Meanwhile, NFA received 150,000 sacks of rice per month for Metro Manila.
RELATED NEWS: DA will gradually lower the price cap of imported rice, target P49 per kilo by March
Based on the latest price monitoring by the DA, imported commercial rice is playing at P40 to P55 per kilo, depending on class. Meanwhile, local rice is more expensive, ranging from P40 to P60 per kilo as of February 17.
The food security emergency was declared after the resolution of the National Price Coordinating Council (NPCC) urging the DA to do so to stabilize the price of rice.
Nevertheless, there are increasing calls for the DA to intensify its pursuit of businessmen and retailers who are said to be manipulating prices through collusion or smuggling. According to some groups, the price cap and food security emergency are not enough to lower the price of rice.
