PBBM on food security emergency: We have to force the rice price down

Manila Bulletin

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  Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin  Visit our website at http://mb.com.ph Facebook: https://www.facebook.com/manilabulletin  Twitter: https://www.twitter.com/manila_bulletin Instagram: https://instagram.com/manilabulletin Tiktok: https://www.tiktok.com/@manilabulletin  #ManilaBulletinOnline #ManilaBulletin #LatestNews

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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.

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