President Ferdinand Marcos Jr. on Tuesday emphasized the importance of the National Food Authority's mission to maintain sufficient rice buffer stock sourced from local farmers.

In a speech delivered by Department of Agriculture Senior Undersecretary Domingo Panganiban during the NFA's 51st anniversary, Marcos explained that the agriculture sector has been facing several challenges for the past few months.

"Even in the midst of challenges that grapple our agriculture sector, you have remained steadfast in maintaining a buffer stock of rice and palay, especially during times of emergencies and calamities," Marcos said.

"The recent months have truly been challenging. However, we continue to find the best solutions to the issues that we face without compromising the needs of our farmers and retailers," he added.

Marcos also reiterated the government's proactive steps to stabilize the prices of basic commodities, particularly rice.

He emphasized the importance of law-enforcement activities aimed at curbing smuggling and hoarding activities that threaten food security. These efforts underscore the government's dedication to ensuring price stability and food security for all citizens.

"The government is also undertaking aggressive steps to mitigate matters pertaining to the price stability of basic commodities, especially rice, by strengthening our law-enforcement activities against smugglers, hoarders, and those who undermine our efforts to ensure food security," Marcos said.

Despite the challenges, Marcos congratulated NFA for their unwavering commitment to ensuring the nation's staple food supplies' stability, affordability, and safety.

"I am delighted that in line with the celebration of your 51 years of service, you are launching an array of programs and projects that will definitely boost the delivery of food services for the general public," Marcos said.

The President also expressed his delight in the NFA's launch of various programs and projects aimed at enhancing food services for the public.

He particularly highlighted two significant initiatives: the SARAI Project or Smarter Approaches to Reinvigorate Agriculture as an Industry in the Philippines Project and the NFA Modernization Program.

Both programs are expected to contribute to more productive and sustainable farming practices in the country.

Furthermore, President Marcos praised the partnership between the NFA and key financial institutions, as he noted the ceremonial signing of the NFA's credit line agreements with Landbank and the Development Bank of the Philippines. This collaboration underscores their shared commitment to advancing the nation's development agenda.