As a step in ensuring a stable supply of the country's staple food, the Department of Agriculture, Department of Trade and Industry, and National Irrigation Administration recently signed a memorandum of understanding that focused on the creation of alternative markets that would benefit consumers while at the same time uplifting farmers livelihoods.

“The MOU seeks to promote the Integrated Rice Supply Chain Development Program, a project that will foster an efficient supply chain; develop a business-to-business online market platform; create alternative market access for buyers and sellers; enhance farmers' income; promote proper rice branding and classification; and make rice affordable to consumers,” said DA on Saturday.

In a message read by the Chief of Staff. Alvin Balagbag, Agriculture Secretary Francisco Tiu Laurel, said that the agreement creates a ‘formwork for collaboration’ in implementing a project that ensures to transformation of the state's rice supply chain.

He also added that the country could improve its agricultural products’ status internationally through cooperation in the production, classification, marketing, and distribution of domestic rice.

“Our aim is to enhance the income of our hard-working rice farmers through more efficient market and supply chain arrangement,” Laurel said. “We envision a future where our rice is not only of high quality but is also recognized and appreciated in the market.”

The latest data from the Philippine Statistics Authority reveal the country recorded economic growth of 5.6 percent in 2023, wherein agriculture contributed nine percent of the gross domestic product.

This is due to the modest growth in most agricultural production in the last quarter of 2023 following improvements in crops, livestock, and poultry production value. The state’s agriculture sector recorded a 1.2 percent growth rate in the fourth quarter of 2023.

Moreover, the highest palay harvest was recorded last year with a volume of 20.06 million metric tons, enabling the government to cut its rice import volume to 3.5 million MT last year from 3.8 million MT in 2022.

“The sector, however, employed around 25 percent of the 49.7 million Filipinos in the labor force as of November.”