The government will auction off 100,000 metric tons of local rice this week to stabilize supply and strengthen food security, Malacañang announced Wednesday, Aug. 27.
Presidential Communications Office Undersecretary Claire Castro said the auction, to be handled by the Department of Agriculture, will cover around 1.2 million bags of rice with a floor price of P25 to P28 per kilo, depending on age.
The move also aims to free up warehouses for incoming harvests.
Castro added that rice will also be released to support the administration’s “Benteng Bigas, Mayroon Na” program, which offers rice at P20 per kilo for select beneficiaries.
She assured that the government will closely monitor rice prices to prevent manipulation, while the DA continues consultations with farmers, millers, and traders ahead of the two-month rice import suspension set to begin September 1.
