Food security emergency likely to be declared next week —Marcos

President Ferdinand ''Bongbong'' Marcos Jr. on Friday said it is likely that a food emergency security would be declared, noting that this measure is being taken to lower the price of rice in the country.

''They are still waiting for the recommendation of the Price Coordinating Council but siguro next week matatanggap na formally ng DA 'yung kanyang rekomendasyon, and the recommendation I believe is going to be to declare an emergency,'' Marcos said in an ambush interview. 

“The reason that we are doing this is, ginawa na natin lahat upang ibaba ang presyo ng bigas ngunit market is not being allowed to work properly,” he added. 

EXPLAINER: What is a food security emergency?

The National Price Coordinating Council recently approved a resolution urging the Department of Agriculture to declare a "food security emergency for rice" as the prices of the commodity remained high.

Under Republic Act 12078 or the law amending the Agricultural Tariffication Act, the Agriculture Secretary has the power to declare a food security emergency on rice due to a supply shortage or extraordinary increase in prices.

Department of Agriculture (DA) Secretary Francisco Tiu Laurel said that the possibility of declaring a ''food security emergency for rice' is ''justified,'' saying that there is sufficient data to support this action. 

According to Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque, who chairs the NPCC, said the move will allow the NFA to release buffer stock of rice to stabilize prices, replacing released stocks with locally produced rice to support Filipino farmers.

She said this will empower the DTI to take decisive action in protecting consumer welfare while strengthening the country's agricultural backbone. 

Currently, the NFA holds 300,000 metric tons of rice in buffer stocks. 

Releasing these reserves will help decongest warehouses in preparation for the February harvest.

—VAL, GMA Integrated News