President Marcos said yesterday that the impending declaration of a food security emergency in the country by the end of the month would be a last resort to bring the price of retail rice down despite government efforts to alleviate the situation.
READ: https://mb.com.ph/2025/1/17/pbbm-on-food-security-emergency
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READ: https://mb.com.ph/2025/1/17/pbbm-on-food-security-emergency
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NewsTranscript
00:00Well, we are still waiting for the recommendation of the Price Coordinating Council, but maybe
00:11next week, the DA will formally accept their recommendation.
00:17And the recommendation, I believe, is going to be to declare an emergency.
00:21The reason that we are doing this is we did everything to lower the price of rice, but
00:28the market is not being allowed to work properly.
00:32The demand and supply curve is not being followed, because until now, even if you lower all the
00:39inputs, the sales are still high.
00:42And so, we have to force that price down, and we have to make sure that the market works
00:47properly, that there is no friction cost that is happening because of different things.
00:56It's illegal.
00:57That's why the Congress is investigating.