THE relentless surge in the prices of basic commodities such as rice, meat, and others continues to burden the public.
This is also why many Filipinos are looking to find cheaper alternatives.
According to the latest survey conducted by OCTA Research in March, 66 percent of Filipinos believe that the government should address the reasons behind the higher prices of goods in the Philippines.
This was also echoed by economist Dr. Michael Batu.
“That just means one thing, the growth of the economy is not being felt by ordinary citizens.”
“I really don’t see it because we can see that our inflation, particularly rice inflation, has been at a 15-year high,” according to Dr. Michael Batu, Economist.
As a result, the Department of Agriculture (DA) has proposed to the National Price Coordinating Council to establish a 10-day buffer stock of various agri commodities.
This initiative stems from the shortage of agricultural products affecting market prices.
Under Section 9 of the Price Act or Republic Act No. 7581, the DA has the authority to import, purchase locally, or import products in times of need.
However, DA Assistant Secretary and Spokesperson Arnel de Mesa clarified that the agency is still studying the matter.
“The review of the Implementing Rules and Regulations of the Price Act is ongoing, and it’s still under study.”
“To avoid price manipulation, to avoid the excessive increase in prices of goods. Because, for example, there’s no way for the Department [of Agriculture] to intervene in the market,” stated Asec. Arnel de Mesa, Spokesperson, DA.
The DA may utilize cold storage facilities it has built to store various products such as rice, corn, pork, onions, sugar, and fertilizer.
De Mesa added that it cannot be determined yet when the Implementing Rules and Regulations or IRR regarding this matter will be completed.
While DA’s intention is commendable, the Philippine Chamber of Agriculture and Food Incorporated (PCAFI) insists that the implementation should be properly ensured.
“What is the capacity of the government to do that with the money involved and how will the downside be implemented? Well, the lessons of NFA on rice, we learned the lesson on Kadiwa during the onions, all of them had problems. So, government procedures should be rationalized to facilitate implementation and to avoid affecting DA employees,” said Danilo Fausto, President, PCAFI.
The Federation of Free Farmers (FFF) is concerned that these stocks may just end up rotting and not be utilized.
“It takes a lot of preparation because it’s okay for rice since NFA is there, but for other commodities, where do you store the buffer stock? Who will handle it to prevent spoilage?”
“And then, what is the manner of disposal, for example, if there’s no emergency situation to release the buffer stock? How do you dispose of it and replenish it? It needs to undergo thorough scrutiny, and the Department of Agriculture might end up with spoilage,” according to Raul Montemayor, National Chairman, FFF
