NPCC urges declaration of ‘food security emergency’
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NewsTranscript
00:00Like what used to be implemented to keep the prices of fuel at a manageable level decades ago,
00:05government has an option to do the same for rice.
00:08This measure has been suggested to the Department of Agriculture.
00:11After it was observed, the prevailing prices for the staple grain remain unreasonable.
00:17What that option is, BTV's Clazel Paldilla reveals in this report.
00:22The high price of rice is taking a toll on Justin's budget.
00:26He has switched from buying rice at 60 pesos per kilo to 50 pesos to save money.
00:38Meanwhile, Marilyn has her own strategy to cut costs.
00:48According to the Department of Agriculture's price monitoring,
00:52rice prices in markets range from 37 to 65 pesos per kilo.
00:57The National Price Coordinating Council has recommended declaring a food security emergency.
01:03The NPCC says the current high prices are extraordinary amid falling global rates and reduced import tariffs.
01:12If approved, the National Food Authority will be allowed to sell affordable rice to local governments.
01:18NFA rice will be sold to LGUs at 36 pesos per kilo, which they can resell at 38 pesos.
01:26This move aims to influence market prices and bring them down.
01:49Under the rice tariffication law, the DA's secretary can declare a food security emergency.
02:01But Eula Rau Jr. will consult with the president before making a final decision.
02:19This move will also help decongest NFA warehouses to make room for the next harvests.
02:30The NFA currently has 700,000 sacks of rice, which will be lie in storage for over two months at the end of February.
02:39The food security emergency is targeted for implementation by the first week of February.
02:45In the meantime, the DA and DTI will monitor rice prices closely.
02:49Starting Monday, January 20, a maximum suggested retail price of 58 pesos per kilo for imported rice will be enforced.