President Ferdinand Marcos Jr. vowed to crack down on rice smuggling and hoarding, which he said are the main causes of the recent increase in rice prices in the country.

During the distribution of rice to beneficiaries at the San Andres Sports Complex in Manila on Tuesday, he said that the government is committed to modernizing agriculture and increasing both supply and yield.

However, he acknowledged that there are several problems affecting the balance of rice supply and prices in the market.

"Hoarding, smuggling, and price manipulation by unscrupulous traders are the problems affecting the balance of rice supply and prices in the market," Marcos said.

"In the New Philippines, this cannot continue," he added.

Marcos said that the government is working to address the challenges facing the agricultural sector, including launching the Kadiwa program to connect food producers with consumers directly and providing farmers with modern machinery, infrastructure, research, and support.

However, Marcos said that the problem affecting the balance of rice supply and prices in the market is hoarding, smuggling, and price manipulation by unscrupulous traders.

"This is how they operate: they first smuggle rice into the country. Once it's here in the Philippines, they won't release it to the market, making it unavailable for purchase. They won't take it to the market; they'll hide it to create a shortage and raise prices," Marcos said.

"They only release it when prices are high, so they can make a substantial profit. This is not right because their actions cause suffering to our people just to fill their pockets with money."

Marcos said that the government is strengthening its efforts to combat smuggling and hoarding and that he has instructed all officials, authorities, and agencies to rigorously enforce policies and laws related to the rice issue.

"The rice we are distributing today comes from seized supplies at Zamboanga Port, which were proven to have not gone through the legal importation process," Marcos said. "Instead of wasting this rice, we have decided to distribute it to those in need."