ZAMBOANGA CITY (Philippine Daily Inquirer/Asia News Network): President Ferdinand Marcos Jr said the government is targeting a bigger buffer stock of rice in the country to ensure a sufficient supply of the staple food at a lower price. “We will increase the buffer stock so that we will no longer see the sudden spikes in prices,” the President explained in Filipino. “All the countries in Asia are trying to ensure that they have sufficient reserves (of rice), they have a buffer stock (and) that’s why they are racing to buy, which induces a rise in the price,” Marcos explained. But the long-term solution to this problem, according to the President, is increasing local rice production. We don’t want to be in a situation when the Filipinos go hungry because there is no sufficient supply of rice,” he added.

Source: Philippine Daily Inquirer September 20, 2023 14:24 UTC