President Ferdinand Marcos Jr. favors the declaration of a national food security emergency for rice to reduce its price which has remained high despite government interventions.

On Thursday, the National Price Coordinating Council recommended to the Department of Agriculture that it declare a food security emergency for rice to tame the price of the commodity.

Agriculture Secretary Francisco Tiu Laurel Jr. said he was waiting for the recommendation to reach his office. He will consult the President prior to making a decision, he added.

Marcos agreed with Laurel on the rationale behind the recommendation, noting that even with several government interventions being implemented the market was still not working properly.

“The demand and supply curve is not being followed because even now, even if you lower all the inputs, costs are still high,” he said.

“And so we have to force that price down and we have to make sure that the market works properly without friction costs happening because of various things. And the other things there are illegal, so that’s what Congress is investigating now,” he added.

If the recommendation is approved, the agriculture chief is expected to formally declare a national food security emergency by the end of the month.

With this, the National Food Authority (NFA) will be allowed to sell rice stocks to local government units as well as other government agencies at a lower price. It will also free up space in NFA warehouses as the government will procure palay from local farmers in the coming harvest season.