Manila: Senator Sherwin Gatchalian has commended the Marcos administration for its efforts to reduce rice and pork prices, emphasizing the importance of ensuring these price cuts directly benefit consumers. Gatchalian highlighted the anticipated relief for consumers who have faced high commodity prices for several months.

According to Philippines News Agency, the Department of Agriculture (DA) reported on Wednesday that rice prices have been on a decline since December 2024. This decrease is attributed to several initiatives, including President Ferdinand R. Marcos Jr.'s order for a substantial tariff reduction on rice imports, the DA's Rice for All program under Kadiwa ng Pangulo, and the declaration of a food security emergency. This emergency status allowed the National Food Authority (NFA) to distribute its rice stocks to local government units.

In the pork sector, retail prices are expected to fall by mid-March. This is due to decreasing farmgate prices, collaboration among pork industry traders and retailers, and the anticipated implementation of a maximum suggested retail price (MSRP) for pork by March 10. Gatchalian, however, stressed the necessity for the government to ensure these price reductions are reflected in retail prices to aid Filipino families in managing their expenses on other essentials.

He urged the DA and the Department of Trade and Industry to enhance price monitoring efforts and crack down on unfair market practices like hoarding and price manipulation. This would prevent artificial inflation of prices, which burdens consumers. Gatchalian also called on retailers and suppliers to help maintain reasonable food prices.

Additionally, Gatchalian emphasized the importance of providing robust support to farmers and livestock raisers. Strengthening this support is crucial for boosting production and reducing costs, which will help sustain the lower prices in the market.