< List

NATIONAL GOVERNMENT MAY LIKELY DECLARE A FOOD SECURITY EMERGENCY

ImHenyo Writer
M
Jessica
2025.01.18
Likes 3
Views108
Comments 0

President Marcos Jr. expressed support for the declaration of a food security emergency to bring down the prices of rice in the country (Photo courtesy of Eloisa Lopez/Reuters)

 

President Ferdinand R. Marcos Jr. expressed support for the declaration of food security emergency, saying it is needed for the market to work properly amid the rising prices of rice. Noting that this measure is being taken to lower the price of rice in the country.

 

The Department of Agriculture (DA) recently announced that it would declare a food security emergency by the end of January after the retail price of rice continued to spiral despite declining global rice costs and tariff reductions.

 

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.

 

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.

 

Agriculture 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.

 

Adding that this week a food security emergency would enable the National Food Authority (NFA) to sell rice stocks to local government units (LGUs) and other government agencies at a lower price.

 

It will also free up space in NFA warehouses and help local farmers through palay procurement for the coming harvest season. The NFA has nearly 300,000 metric tons of rice in stock, which can be sold to LGUs and other government agencies.

 

Furthermore, President Marcos Jr. stated that “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.”

 

“The demand and supply curve cannot be followed because until now even if you lower all inputs, sales are still high. And so, we have to force that price down and we have to make sure that the market works properly without friction costs that occur due to various things,” he added.

 

 

Source: ABS-CBN News

 

 

 

Be part of ImHenyo community!

Get featured by sharing your stories, news, and comments

Email us at [email protected]

Comments

NEWS

FUEL PRICES UP IN THIRD WEEK OF FEBRUARY N
M
Jessica
Views 22
Likes 1
2025.02.17
FUEL PRICES UP IN THIRD WEEK OF FEBRUARY
CASHLESS TOLL COLLECTION TO RESUME ON MARCH 15 – TRB N
M
Jessica
Views 28
Likes 1
2025.02.17
CASHLESS TOLL COLLECTION TO RESUME ON MARCH 15 – TRB
FORMER VP LENI ROBREDO’S X ACCOUNT HACKED TO PROMOTE CRYPTO N
M
Jessica
Views 15
Likes 1
2025.02.17
FORMER VP LENI ROBREDO’S X ACCOUNT HACKED TO PROMOTE CRYPTO
PAGASA WARNS AGAINST FLASH FLOODS AND LANDSLIDES, RAINS TO PREVAIL N
M
Jessica
Views 32
Likes 1
2025.02.17
PAGASA WARNS AGAINST FLASH FLOODS AND LANDSLIDES, RAINS TO PREVAIL
PHIVOLCS LOGS MINOR PHREATIC ERUPTION AT TAAL VOLCANO N
M
Jessica
Views 32
Likes 1
2025.02.17
PHIVOLCS LOGS MINOR PHREATIC ERUPTION AT TAAL VOLCANO
QUEZON CITY DECLARES DENGUE OUTBREAK
M
Jessica
Views 44
Likes 1
2025.02.15
QUEZON CITY DECLARES DENGUE OUTBREAK
BOC SEIZES SMUGGLED LUXURY CARS WORTH P1.4B IN PASAY, PARAÑAQUE
M
Jessica
Views 38
Likes 1
2025.02.15
BOC SEIZES SMUGGLED LUXURY CARS WORTH P1.4B IN PASAY, PARAÑAQUE
GOVERNMENT WARNS PUBLIC AGAINST LOVE SCAMS TARGETING PINOYS
M
Jessica
Views 47
Likes 1
2025.02.15
GOVERNMENT WARNS PUBLIC AGAINST LOVE SCAMS TARGETING PINOYS
MAGNITUDE 5.6 EARTHQUAKE SHOOK EASTERN SAMAR FRIDAY NIGHT
M
Jessica
Views 64
Likes 1
2025.02.15
MAGNITUDE 5.6 EARTHQUAKE SHOOK EASTERN SAMAR FRIDAY NIGHT
PHILIPPINES CURLING TEAM WINS FIRST ASIAN WINTER GAMES GOLD MEDAL
M
Jessica
Views 63
Likes 1
2025.02.14
PHILIPPINES CURLING TEAM WINS FIRST ASIAN WINTER GAMES GOLD MEDAL
PCSO DISMISSES BREACH REPORT ON DATABASE OF LOTTO WINNERS
M
Jessica
Views 38
Likes 1
2025.02.14
PCSO DISMISSES BREACH REPORT ON DATABASE OF LOTTO WINNERS
DEPED EYES OVER 15,000 TEACHERS TO FILL SHORTAGE OF SCHOOL PRINCIPALS
M
Jessica
Views 47
Likes 1
2025.02.14
DEPED EYES OVER 15,000 TEACHERS TO FILL SHORTAGE OF SCHOOL PRINCIPALS
CLOUDY SKIES, RAINS IN PARTS OF PH ON VALENTINE’S DAY
M
Jessica
Views 42
Likes 1
2025.02.14
CLOUDY SKIES, RAINS IN PARTS OF PH ON VALENTINE’S DAY
47 NEW HIV CASES RECORDED PER DAY IN Q4 OF 2024 – DOH
M
Jessica
Views 45
Likes 1
2025.02.14
47 NEW HIV CASES RECORDED PER DAY IN Q4 OF 2024 – DOH
DOC WILLIE ONG WITHDRAWS FROM SENATE RACE
M
Jessica
Views 66
Likes 1
2025.02.13
DOC WILLIE ONG WITHDRAWS FROM SENATE RACE
1 2 3 4 5