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 Department of Agriculture (DA) on Monday declared a food security emergency for rice due to an “extraordinary” spike in rice prices in the country. The declaration, under Department Circular No. 3,

Agriculture Secretary Francisco Tiu Laurel Jr. on Monday declared a food security emergency on rice due to “extraordinary” rice in local rice prices.

The Philippines' agriculture minister declared on Monday a food security emergency on rice to bring down the cost of the national staple. The declaration will allow the government to release buffer stocks to help bring down retail prices,