MANILA – President Ferdinand “Bongbong” Marcos Jr. voiced his endorsement for the declaration of a food security emergency aimed at reducing rice prices.
In a media interview over the weekend, Marcos emphasized the necessity of declaring a food security emergency, citing that the market is “not functioning properly,” despite the government’s continuous efforts to decrease rice prices.
“Hindi nasusundan ang demand and supply curve dahil hanggang ngayon kahit ibaba mo lahat ng inputs, ang pagbenta mataas pa rin,” the Chief Executive said.
“And so, we have to force that price down and we have to make sure that the market works properly na walang friction cost na nangyayari dahil sa sari-sari, iba’t ibang bagay at ‘yung iba doon ilegal kaya’t iyan ang iniimbestigahan ngayon ng Kongreso,” he added.
Marcos indicated that the recommendation from the National Price Coordinating Council (NPCC) would be formally submitted to the Department of Agriculture (DA) by the following week.
Agriculture Secretary Francisco Tiu-Laurel Jr. announced last week that, based on the NPCC’s recommendation, a food security emergency would be declared before the end of January to tackle the rising retail prices of rice.
Tiu-Laurel explained that this declaration would allow the National Food Authority (NFA) to sell rice stocks to local government units (LGUs) and other government entities at reduced prices, thereby freeing up space in NFA warehouses and assisting local farmers through palay procurement for the upcoming harvest season.
Additionally, Tiu-Laurel mentioned that he would recommend the implementation of a “hybrid” tariff on rice as part of the strategy to lower the price of this essential commodity.
Under Executive Order 62, issued by Marcos in June 2024, the tariff on rice was decreased from 35 percent to 15 percent.
Currently, the NFA possesses nearly 300,000 metric tons of rice stocks, which can be sold to LGUs and other government agencies./PN
