(INQUIRER FILE PHOTO)

MANILA – The Department of Agriculture (DA) is set to release 150,000 metric tons of National Food Authority (NFA) rice stocks to mitigate high prices and address potential food security emergencies.

In a press release on Wednesday, the plan involves distributing around three million 50-kilogram bags over six months, which aims to stabilize rice prices in areas most affected by cost surges.

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It is also set to procure palay at P23 per kilo in the coming months, with the rice harvest season starting mid-February.

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“This monthly release of approximately 30,000 metric tons will alleviate high rice prices and prepare NFA warehouses for the upcoming palay procurement season,” NFA Administrator Larry Lacson said in the statement.

Officials have in recent weeks unveiled a string of measures to reignite the world’s number-two economy, with an eye to achieving five percent annual growth.

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Despite the planned release, Lacson assured that NFA would maintain sufficient buffer stocks for emergencies.

The move follows the government’s reduction of rice tariffs from 35 percent to 15 percent in July 2024 under President Ferdinand Marcos Jr.’s directive.

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