Pres. Marcos Jr. backs impending declaration of food security emergency in light of increasing rice prices
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NewsTranscript
00:00further than our markets jr. expressed support for food security emergency to ensure affordable
00:05rice prices the chief executive acknowledged the government's efforts to lower commodity prices
00:10especially the staple grain but noted that prices in markets continue to rise he emphasized the
00:16declaration is a necessary step to stabilize the market without burdening consumers the president
00:22also highlighted this measure would help improve the functioning of the market and prevent further
00:27price increases the reason that we are doing this is
00:38the market is not being allowed to work properly
00:42the demand and supply curve
00:52and so we have to force that price down and we have to make sure that the market works properly