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PBBM on food security emergency: We have to force the rice price down
Manila Bulletin
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1/17/2025
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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00:00
Well, we are still waiting for the recommendation of the Price Coordinating Council, but maybe
00:11
next week, the DA will formally accept their recommendation.
00:17
And the recommendation, I believe, is going to be to declare an emergency.
00:21
The reason that we are doing this is we did everything to lower the price of rice, but
00:28
the market is not being allowed to work properly.
00:32
The demand and supply curve is not being followed, because until now, even if you lower all the
00:39
inputs, the sales are still high.
00:42
And so, we have to force that price down, and we have to make sure that the market works
00:47
properly, that there is no friction cost that is happening because of different things.
00:56
It's illegal.
00:57
That's why the Congress is investigating.
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