President Ferdinand R. Marcos Jr. recently highlighted the urgent need for a declaration of a food security emergency to address the ongoing crisis in the Philippine rice market.
With retail prices of rice continuing to soar, despite global rice costs declining and tariff reductions already in place, the market is simply not functioning as it should.
President Marcos candidly stated that the government has done everything it can to lower the price of rice, but the market is being hindered by “friction costs” and illegal activities that prevent proper price adjustments.
The declaration of a food security emergency, expected to be made by Agriculture Secretary Francisco Tiu Laurel Jr. before the end of January, is a critical step toward resolving the issue.
This declaration will enable the National Food Authority (NFA) to sell rice to local government units (LGUs) and government agencies at lower prices.
Additionally, it will facilitate the procurement of palay from local farmers in time for the upcoming harvest season and free up much-needed space in NFA warehouses.
The current price hike, which remains out of step with global market trends, cannot be explained solely by external factors.
As President Marcos pointed out, the market is being manipulated by forces that disrupt the basic laws of supply and demand.
The government’s efforts to reduce the costs of rice through tariff reductions and other measures have failed to reach the end consumer due to various illegal practices in the rice trade.
For the Philippines to effectively combat the rising cost of rice and protect the interests of consumers, farmers, and the country’s food security, the market must be allowed to work efficiently.
This is where the declaration of a food security emergency comes in—it will provide the legal framework needed to address the root causes of the problem and ensure that rice remains accessible to all Filipinos.
In the face of mounting pressure and the real risk of exacerbating poverty levels due to food inflation, decisive action is necessary.
The government must be unwavering in its commitment to implementing the declaration and following through on its measures to stabilize rice prices.
Without such a declaration, the food security of millions of Filipinos remains at risk.