March 21, 2025 | 15:18 GMT +7
March 21, 2025 | 15:18 GMT +7
Hotline: 0913.378.918
A farmer removes weeds growing alongside with ride stalks at a ricefield in Naujan, Oriental Mindoro in Philippines, August 27, 2018.
The Philippines, among the world's largest rice importers, declared on Monday a food security emergency to bring down the cost of rice, which it said has stayed elevated despite lower global prices and a reduction in rice tariffs last year.
The declaration, which was widely expected, will allow the government to release buffer stocks to help bring down retail prices of the national staple, Agriculture Secretary Francis Tiu Laurel said in a statement, adding it would remain in effect until the price situation improves.
Despite efforts to liberalise rice imports and reduce tariffs, the agriculture department said, the domestic market has been slow to respond, with retail prices surpassing expectations.
Half of the 300,000 metric tons buffer stock the National Food Authority currently holds could be released over the next six months to ensure supply for emergencies and disaster response, it added.
The annual rate of increase in rice prices in the Philippines hit a 15-year high of 24.4% in March last year, but has since moderated to 0.8% in December, helping keep overall inflation for 2024 within the government's 2% to 4% target.
Last year, the Philippines lowered tariffs on rice and extended existing tariff cuts on some other commodities to combat inflation and ensure ample supply.
(Reuters)
(VAN) Pepper prices on March 20, 2025, saw a slight decline, ranging at VND 159,000 to VND 160,500/kg. The global market also experienced mixed fluctuations.
(VAN) Coffee prices ton March 20, 2025, in the domestic market remain stable at a high level, ranging from VND 132,700 to VND 134,000/kg.
(VAN) Pepper prices on March 19, 2025, recorded a strong increase domestically, continuing the upward trend, ranging from VND 159,000 - 161,000/kg.
(VAN) Coffee prices today, March 19, saw little fluctuation, with Robusta slightly down by $ 5/ton. Domestic coffee prices range from VND 132,700 - 134,000/kg.
(VAN) Coffee prices on March 18, 2025, continue to record a strong upward trend. Domestic coffee prices range from VND 131,000 - 133,000/kg.
(VAN) Pepper prices on March 18, 2025, recorded mixed fluctuations in the domestic market, with prices ranging from VND 157,000 to VND 160,000/kg.
(VAN) Increased demand in emerging markets combined with stable supply in key farming areas will help Vietnam maintain its export performance in the coming time.