President Ferdinand Marcos Jr. assured the public Wednesday that the country has enough food to go around, urging Filipinos to stop panic-buying even as global fuel prices climb and the Middle East conflict raises concerns about supply disruptions.
“We have sufficient supply of food, rice, all basic goods. So, to our countrymen, we tell them, there is no need to hoard as we are not lacking in food supply,” Marcos said in a One News PH report.
The President made the statement after personally visiting the Agora market in San Juan City to check that vendors were not taking advantage of the situation.
“Here in the Philippines, our prices are normal and we are making sure of that,” he told reporters, adding that inspections are being carried out across different markets to monitor for sudden price increases.
The Department of Trade and Industry said manufacturers of basic goods have pledged to hold prices steady for the next 30 days.
Agriculture Secretary Francisco Tiu Laurel Jr. said his department has recorded unreasonable increases in imported rice prices and is now considering a retail price cap. Some retailers have been selling imported rice at P55 to P58 per kilo.
“The price of imported rice should not go beyond P50,” Tiu Laurel said. He added that the government is looking at making rice available at P45 to P48 per kilo in select markets. The DA has also monitored rising carrot prices.
A bigger concern, he said, is fish. Sustained fuel price increases could cut into fishing activity and squeeze supply by midyear.
“If the fuel prices go up by May or June there might be a shortage. Of course, if our fishermen won’t be able to fish because of the high fuel prices… the solution there is again… unfortunately, importation, if we can get supplies,” Tiu Laurel said.
The agency is pushing aquaculture as a fallback to expand the supply of alternative seafood.
Tiu Laurel also warned that if the crisis persists, vegetable farmers could feel the impact by September through higher fertilizer costs.
“The fertilizers for vegetables or what we call cash crops might increase… by P2 per kilo… because of logistics costs,” he said.
On the law enforcement side, the Philippine National Police announced Wednesday that criminal complaints for profiteering and hoarding have been filed against the operators of two fuel stations — one in Solano, Nueva Vizcaya, the other in Arteche, Eastern Samar.
PNP spokesman Brig. Gen. Randulf Tuaño said the Nueva Vizcaya station was flagged on March 10 for selling diesel at P84 per liter, above the rates of nearby stations. The Eastern Samar station was caught on March 11 holding 680 liters of undisclosed gasoline stock worth P54,400.
The Department of Energy had earlier tapped the PNP to assist in monitoring petroleum prices at fuel retailers across the country.
