Philippines starts releasing national rice stocks to dampen prices

Philippines Department of Agriculture Sec. Francisco Tiu Laurel Jr delivers his speech during the Ceremonial Turn-over of National Food Authority (NFA) Rice to Local Government Units (LGU) as part of the Food Security Emergency on Rice on Wednesday, February 19, 2025 at NFA Warehouse in Valenzuela City. - PDI/ANN

MANILA: The Department of Agriculture (DA) started releasing National Food Authority (NFA) rice stocks to local governments on Wednesday (Feb 19), two weeks after declaring a food security emergency to temper rising retail prices.

The DA declared a food security emergency on rice on Feb. 4 to address the “extraordinary” increase in retail prices and ensure the availability of affordable rice for the duration of the emergency declaration, although it previously clarified that there is no shortage of rice.