MANILA: President Ferdinand Marcos Jr has ordered the release of some 1.2 million bags, or approximately 100,000 metric tonnes, of local rice to help stabilise the food supply in the country, Palace Press Officer Claire Castro said on Wednesday (Aug 27).
This will be dispensed by the Department of Agriculture this week via auction, Castro said in a briefing.
“The floor price of rice is expected to reach P25 to P28 per kilo, depending on its age. The auction also aims to free up warehouses to store additional rice supplies—this simply means that our farmers have a good harvest,” Castro said.
Moreover, Castro announced the release of a yet unspecified volume of rice to expand the “Benteng Bigas, Mayroon na” programme.
The government will also continue monitoring rice prices to protect both consumers and farmers from unscrupulous individuals who might try to take advantage of the situation, Castro added.
She also said that the DA is consulting with farmers, millers, and traders to prevent price manipulation and maintain market stability in anticipation of the rice import ban on Sept 1.
On Aug 6, Marcos ordered the 60-day suspension of all rice importation beginning next month, with the goal to “protect local farmers reeling from low palay prices during this current harvest season.” - Philippine Daily Inquirer/ANN
