The Council of Agriculture (COA) said it plans to allocate 65,000 tonnes of its rice reserves to be used as raw material for livestock feed to stabilize the feed supply.
The old-crop rice will be sold to owners of pig, duck, goose and other livestock farms at 10 percent below the cost of imported maize, the council said.
According to the council, the average price of imported US maize at Kaohsiung Harbor rose 27 percent to NT$9.92 per kilogram early this month from NT$7.79 per kilo last June.
Sale of the rice buffer stock will begin next month at a price of NT$8.74 per kilo, in keeping with a decision made at a Cabinet-level meeting on Wednesday to discuss price stabilization in Taiwan.
It was also decided that the council would continue to monitor supply and trade conditions in the farming, fishing and livestock sectors, the Government Information Office (GIO) said.
Meanwhile, the Consumer Protection Commission will inspect prices regularly and continue its coordination with hypermarkets in the country to set up Web sites and special areas to sell goods at low prices, the GIO said.
Other decisions include stricter measures to clamp down on illegal hoarding and price gouging and to closely monitor price movements to ensure that domestic supplies of daily goods are not affected, the GIO said.
Furthermore, in response to fluctuations in the prices of domestic fertilizers and feed, the council said it would keep a close watch on the price of raw materials in the international market.
It will also actively promote rational crop fertilization and offer advice to the fishing and livestock industries to ease the pressure on farmers, it said.