The Department of Agriculture (DA) on Wednesday expressed optimism that the deflation in rice prices seen in January will continue, thanks to strategic measures the government has taken to stabilize the cost of the staple.
The Philippine Rice Research Institute (PhilRice), together with Japan's Sagri Co. Ltd. and the National Irrigation Administration (NIA), are piloting a smart agriculture program aimed at cutting methane emissions in rice farming.
The Department of Agriculture will reduce on Wednesday, February 5, the maximum suggested retail price of imported rice to P55 per kilo, providing much-needed relief to consumers struggling with the high cost of the food staple. The MSRP was previously set at P58 per kilo.
The Department of Agriculture (DA) declared a food security emergency on Monday that allowed the National Food Authority (NFA) to release buffer stocks for public sale. The declaration, signed by DA Secretary Francisco Tiu Laurel Jr., comes in the wake of persistent price increases that have not aligned with global market trends or previous tariff reductions.