President Ferdinand “Bongbong” Marcos Jr. is keen on resolving the issue of rising food costs, including rice.

Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro said in a radio interview on Friday the President is looking at the most effective solutions to the challenge of food security.

“On food security, the President is focusing on that. And he is also figuring out the best way to alleviate it, if there is a problem there. That is what the President always does,” she said.

Castro added that the “President will closely focus on identifying the problem behind why the price of rice hasn’t decreased significantly yet.”

Meanwhile, Castro warned that severe sanctions would be imposed on economic saboteurs, particularly smugglers and hoarders, who are manipulating the prices of agricultural products.

“Behind our backs, there are those committing such crimes. This won’t slip by the President’s attention, so we will go after them one by one,” she said.

Marcos earlier called for a “unified” strategy to stabilize food prices, along with the introduction of new policies to protect consumers from market fluctuations.

On 4 February, the Department of Agriculture declared a food security emergency on rice to address the “extraordinary” price increases in its retail price.

On 15 February, the DA lowered the maximum suggested retail price (MSRP) for five-percent broken rice in Metro Manila to P52 per kilo from P55 to help control retail prices.

Starting 1 March, the MSRP for five-percent broken imported rice will go down to P49 per kilo.