Agriculture Secretary William Dar on Thurday ordered the release of 3.6 million bags of imported rice to reduce its market price.

During a press conference, Dar directed the National Food Authority (NFA) to dispose imported rice on or before October 10.

“The 3.6 million bags of imported rice will be out in the markets and this will be done for one month starting today,” Dar said.

Dar explained that the released stock will be sold at retail price of P27 per kilo and wholesale price of P25 per kilo.

According to NFA, the P27 retail price will generate at leat P4.86 billion which will be used to buy unhusked rice from local farmers.

Dar also announced a P2 increase in the support price of unmilled rice.

From the initial P17 per kilo of clean and dry unmilled rice, it will be increased to P19.

According to the Department of Agriculture (DA), the higher support price could result to P8,000 additional income per farmer, "based on current national average yield of four tons per hectare." Cristina Eloisa Baclig/DMS