Recently, the sustained high price of rice in the Philippines has attracted widespread social attention. In response to this severe situation, the Philippine government has declared a state of emergency for food security and plans to curb the rising trend of rice prices through a series of measures. This measure aims to ensure the stability of domestic food supply and alleviate the economic burden on consumers.

According to Reuters, Philippine Agriculture Secretary Francisco Tiu Laurel stated in a statement on February 3 that the government will use the national rice buffer reserve to stabilize domestic market prices. This decision is one of the important measures taken by the government to address the current food crisis. Laurel emphasized that the government's goal is to ensure sufficient rice supply in the market while responding to potential emergencies or disasters.

The Philippine National Food Administration has revealed that the government may gradually release about 150000 metric tons of rice reserves in the next six months. This measure aims to ensure sufficient market supply and alleviate the pressure caused by price increases. Data shows that the price increase of rice in the Philippines reached a 15 year high of 24.4% in March 2024. Although the upward trend has slowed down since then, with the growth rate in December shrinking to 0.8%, the market retail prices are still higher than expected. The government hopes to maintain the inflation rate within the target range of 2% to 4% in 2024 through a series of regulatory measures.

Although the Philippine government has relaxed its rice import policy and lowered related tariffs, the market response has been slow and has not effectively lowered retail prices. Regarding this, Laurel stated that the state of emergency for food security will remain in effect until rice prices stabilize. He pointed out that the government will continue to closely monitor market trends and adjust relevant policies according to actual situations.

The Philippines is one of the world's largest rice importers, and its domestic rice supply heavily relies on imports. In recent years, due to factors such as global climate change, supply chain disruptions, and international market price fluctuations, the rice supply in the Philippines has faced enormous pressure. The government's use of national rice reserves this time is not only to cope with the current price increase, but also to ensure national food security.

The measures taken by the Philippine government have received widespread attention both domestically and internationally. Analysts point out that the government's release of rice reserves to stabilize market prices is a common emergency measure. However, to fundamentally solve the rice supply problem, the Philippines still needs to make more efforts in improving domestic agricultural production efficiency, improving supply chain management, and strengthening international cooperation.

In addition, the Philippine government plans to further stabilize the food market through other measures. For example, the government will increase investment in agricultural infrastructure, improve farmers' production capacity, and encourage more private sector participation in food production and supply. At the same time, the government will strengthen cooperation with neighboring countries to ensure smooth import channels for rice.