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.

Republic Act 12078 or the amended Rice Tariffication Law (RTL) authorizes the secretary of the Department of Agriculture (DA) to declare a food security emergency in case of extraordinary price increases.

Agriculture Secretary Francisco Tiu Laurel Jr. on Monday issued Department Circular No. 03 declaring a food security emergency on rice.

The Philippines' agriculture minister declared on Monday a food security emergency on rice to bring down the cost of the national staple.

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