00:00President Ferdinand R. Marcos Jr. gave a statement regarding the Food Security Emergency
00:06due to the continuous increase in the prices of goods.
00:09He said that the government did everything to lower the price of rice
00:14but it did not follow the supply and demand term.
00:21The reason that we are doing this is that we did everything to lower the price of rice
00:27but the market is not being allowed to work properly.
00:32It does not follow the demand and supply term
00:36because until now, even if you lower all the inputs,
00:40the sales are still high.
00:42And so, we have to force that price down
00:45and we have to make sure that the market works properly,
00:48that there is no friction cost because of different things.
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