Philippines declares food security emergency to tame soaring rice prices

MANILA (Bernama-Xinhua: Philippine Agriculture Secretary Francisco Tiu Laurel declared a food security emergency on rice on Monday to stabilise the "extraordinary" rice prices in the country, reported Xinhua.

"This emergency declaration allows us to release rice buffer stocks held by the National Food Authority (NFA) to stabilise prices and ensure that rice, a staple food for millions, remains accessible to consumers," Laurel said in a statement.