Agriculture Secretary Francisco Tiu Laurel Jr. on Thursday assured the public that prices in the Philippines will remain stable for the time being despite tensions in the Middle East, as supplies of agricultural products are expected to last through June or July.
Stable Agricultural Supply Expected
“I can safely say na hanggang June or even July walang issue sa supply of almost everything,” Tiu Laurel said during an ambush interview. (I can safely say that up until June or even July, there won’t be an issue of supply in almost everything.)
While acknowledging a slight increase in prices, Tiu Laurel stated, “In general, prices should remain stable at this time. Of course, may kaunting taas ding nakikita. At least P2 per kilo dahil sa freight, dahil ‘yung transport cost ng lahat ay tumaas din.” (In general, prices should remain stable at this time. Of course, we are also seeing a slight increase. At least P2 per kilo because of freight, because the transport cost of everything has increased, right.)
The country currently has sufficient stocks of rice, pork, corn, and sugar, according to the Agriculture Secretary. He also noted that the Philippines is currently in both a planting and harvesting season.
The Department of Trade and Industry has previously committed to maintaining current prices in the short term to mitigate price pressures stemming from fuel price volatility related to the Middle East conflict. President Ferdinand Marcos Jr. also stated the country is actively seeking alternative fuel sources amid rising petroleum product prices.
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