President Ferdinand Marcos Jr. on Friday said that there is a possibility of declaring a food security emergency next week.
He explained that this would be done to help lower rice prices in the markets.
“They are still waiting for the recommendation of the (National) Price Coordinating Council but siguro next week matatanggap na formally ng DA ‘yung kanyang rekomendasyon, and the recommendation I believe is going to be to declare an emergency,” Marcos said.
“The reason that we are doing this is ginawa na natin lahat upang ibaba ang presyo ng bigas ngunit market is not being allowed to work properly,” he added.
The National Price Coordinating Council has approved a resolution urging the Department of Agriculture to declare a food security emergency for rice, citing the high price of the commodity.
Department of Agriculture Secretary Francisco Laurel Tiu said that the call for the declaration is “justified,” as there is data supporting this decision.
Republic Act No. 12078 grants the DA the authority to declare a food security emergency if supply is low or if there is an unusual spike in prices.