The Philippine Department of Agriculture reports varied price changes in key agricultural commodities following Middle East tensions, highlighting increases in some products and decreases in others.
Prices of several essential agricultural goods in the Philippines have experienced fluctuations amid the ongoing conflict in the Middle East, according to the Department of Agriculture (DA) as presented at a recent Senate hearing. Notably, the price of carrots increased by almost 50%, jumping from 100 to 150 Philippine pesos per unit. Pork cuts such as ham and belly showed slight increases from 350 to 360 pesos and 370 to 380 pesos respectively. Conversely, prices for local chicken dropped from 200 to 180 pesos and tomatoes decreased from 80 to 60 pesos. Other products like well-milled rice, chicken eggs, eggplants, and cabbage remained steady in price.
DA Assistant Secretary U-Nichols Manalo attributed these fluctuations partly to rising fuel costs, which simulations suggest directly impact retail food prices. To support stakeholders affected by these changes, the DA has allocated substantial funding, including a 150 million peso fuel assistance program and a proposed 7 billion peso financial aid package for rice farmers, although some funds have yet to be released. These measures aim to stabilize the agricultural sector and mitigate the economic impacts of the Middle East conflict on food prices in the Philippines.
Sources referenced:
- https://www.gmanetwork.com/news/topstories/nation/983045/list-prices-of-agri-goods-before-and-amid-middle-east-conflict/story/
