The Department of Agriculture is set to auction off 12 million sacks or about 100,000 metric tons of rice this week to replace aging rice stock at the National Food Authority (NFA) warehouses with the latest harvests, Palace Press Officer Claire Castro said on Wednesday.
“In accordance with the directive of President (Ferdinand) Marcos Jr. to further strengthen food security in the country, the Department of Agriculture will release 1.2 million sacks or up to 100,000 metric tons of local rice through an auction this week,” Castro said in a briefing in Malacañang.
She said the auction aims to free up NFA warehouses to accommodate new grains that the government is buying from local farmers.
Castro said the floor price for rice has been set at P25 to P28 per kilo, depending on the age of the stock.
Aging rice stocks refer to rice reserves in storage for more than two months after milling.
Castro said the DA will also release a further 100,000 metric tons for the “Benteng Bigas Meron Na” program to ensure the public’s access to more affordable rice.
The government, through the DA, will closely monitor the implementation of the 60-day ban on rice importation, which will take effect next week, and ensure there are no issues of hoarding or price manipulation, Castro said.
She said the government also expects a good harvest from local farmers, which should complement the suspension of rice importation.
“According to the DA, they will implement weekly nationwide price monitoring to enforce the maximum suggested retail price. They are also engaging with stakeholders, including farmers, millers, and traders, to ensure the price is not manipulated,” she said.
The president had ordered a 60-day suspension of rice importation from September 1 to support local farmers.
Castro said the government will study the proposal of Agriculture Secretary Francisco Tiu-Laurel to extend the 60-day import ban, along with other potential issues related to rice and food security.
