A declaration of food security emergency is needed for the market to work properly amid the rising prices of rice, President Ferdinand Marcos Jr. said Friday.

“The reason that we are doing this is ginawa na natin lahat upang ibaba ang presyo ng bigas ngunit the market is not being allowed to work properly,” Marcos told the media when asked about the impending declaration of food security emergency by the Department of Agriculture (DA).

“Hindi nasusundan ang demand and supply curve dahil hanggang ngayon kahit ibaba mo lahat ng inputs, ang pagbenta mataas pa rin,” he 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 iba’t ibang bagay,” he explained.

“At iyong iba doon iligal kaya’t iyan ang iniimbestigahan ngayon ng Kongreso,” the President added.

Agriculture Secretary Francisco Tiu Laurel Jr. is set to declare a food security emergency before the end of January to address the spiking retail prices of rice.

The move follows the resolution of the National Price Coordinating Council (NPCC) urging the DA to declare a “food security emergency for rice.”

Rice prices remain high despite declining global rice costs and tariff reductions ordered by Marcos.

The declaration of food security emergency will allow the National Food Authority (NFA) to sell rice stocks to local government units (LGUs) and other government agencies at a lower price, free up space in NFA warehouses and help local farmers through palay procurement for the upcoming harvest season. Presidential News Desk