(INQUIRER FILE PHOTO)
MANILA, Philippines — President Ferdinand “Bongbong” R. Marcos Jr. said on Friday that the National Price Coordinating Council’s (NPCC) recommendation to the Department of Agriculture (DA) declare a food security emergency for rice will likely be received next week.
In an ambush interview in Leyte, Marcos was asked to comment on the DA’s proposed food crisis declaration.
Article continues after this advertisement“Well, they [DA] are still waiting for the recommendation of the [National] Price Coordinating Council (NPCC),” Marcos said.
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(But maybe next week, the DA will formally receive their recommendation, and I believe it will be to declare an emergency.)
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In a Palace briefing on Thursday, Agriculture Secretary Francisco Tiu Laurel Jr. said they are now awaiting the full recommendation from the NPCC, which urges the declaration of a food security emergency for rice before granting it a go signal.
DA Secretary Francisco Tiu Laurel Jr. said the insurance claims must be immediately released to ensure recovery in agricultural production.
aov slotWheat futures also slipped after the USDA raised its global wheat supply outlook, though concerns about exports from the Black Sea limited losses.
Article continues after this advertisementWhile Laurel noted that it is the DA that will approve or deny the recommendation, he will present it to Marcos once he receives it.
“The reason that we are doing this is that we have done everything to lower the price of rice, but the market is not being allowed to work properly. Hindi nasusundan ang demand and supply curve dahil hanggang ngayon kahit ibaba mo lahat ng inputs, ang pagbenta pa rin mataas pa rin,” Marcos said.
Article continues after this advertisement(We are doing this because we have done everything to lower the price of rice, but the market is not being allowed to function properly. The demand and supply curve is not being followed because, even if you reduce all inputs, the selling price remains high.)
The National Food Authority warehouses currently store 300,000 metric tons of rice buffer stocks.
The DA’s food security emergency would authorize the release of these stocks to Kadiwa stores and local government units, making room for the expected new harvest in February.
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