Higher Food Price in PH Amid Wet Season and Pandemic

The National Economic and Development Authority (NEDA) warns the public of higher various food product prices due to wet season and the continuous economic damage brought about by the coronavirus disease 2019 (COVID-19) pandemic.

However, NEDA reported that inflation is still stable at 2.5% in October this year due to balanced supply but weaker demand caused by the pandemic.

Some food supplies from the Department of Agriculture (DA) were also damaged by the recent typhoon and weather disturbances, hitting rice and vegetable supplies mostly.

Both typhoons Quinta and Rolly damaged billions of pesos worth of agricultural goods recently.

“Upward inflationary pressures remain such as the adverse impact of inclement weather,” NEDA said in a statement.

Meanwhile, the Philippine Atmospheric, Geophyiscal and Astronomical Services Administration (PAGASA) revealed that they are expecting 3-7 tropical cyclones from November 2020 to April 2021. PAGASA calls out everyone to cooperate with their Local Government Unit (LGUs).

However, DA’s quick response fund and the production of food products, as well as the distribution of seeds, medicines and other essential supplies can help affected individuals especially farmers and fishermen.

A P10-billion rice competitiveness enchancement fund is also being pushed by NEDA to boost the production of domestic rice and shift towards modern and high value crops. (MLC)