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Philippines declares food security emergency to tame retail rice prices

  • The Philippines declared a food security emergency to lower high rice prices, according to Agriculture Secretary Francisco Tiu-Laurel.
  • The Department of Agriculture plans to release 300,000 metric tons of rice to stabilize prices and protect consumers from price hikes.
  • Rice prices have increased by 19-20 percent since July 2023, despite tariff cuts on imported rice, as noted by the U.S. Department of Agriculture’s Foreign Agricultural Service.
  • Starting February 5, the price cap on imported rice in Metro Manila will be reduced from P58 to P55 per kilogram, with further reductions planned in March.
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  • 38% of the sources lean Left, 38% of the sources lean Right
39% Right
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