Negosyante News

December 26, 2024 9:02 pm

Food Shortage Expected to Hit the PH, Agri Group Urges Government Action

IMG SOURCE: NPR

On Wednesday, the Philippine Chamber of Agriculture and Food Inc. (PCAFI) noted that the country will likely encounter a food shortage within the year. The agricultural group pointed out that the ongoing conflict between Russia and Ukraine is the primary catalyst, which has limited — if not halted — the exports of food-exporting countries.

“A lot of countries are banning their export to the Philippines in order to protect their own economic and food security. Where do we get the food if we do not have the production?” remarked PCAFI President Danilo Fausto, who projects the country’s food shortage to begin by the fourth quarter of 2022. Exports of wheat to the Philippines, for instance, have already been stopped by other countries which could affect several products such as bread, noodles, and even animal feeds. Filipinos could also be burdened down the line as this could prompt a hike in food prices.

Major food manufacturer Monde Nissin had earlier cautioned of a looming global food crisis as well. Combined, Ukraine and Russia account for 30-40% of the global wheat supply and around 40% of the world’s sunflower oil supply, both of which are key components in various food products. According to PCAFI, the coming administration should significantly increase the budget of the Department of Agriculture.

“Agriculture is given second priority. Now that everybody is hungry, what would you do?” Fausto furthered. The Agri group also urged for better access to credit for farmers and more stringent measures on smuggling and biosecurity, which affect countless local agricultural businesses. “Let’s stop treating [the] agricultural sector as a charity sector. Let’s start treating agriculture as a good business, [a] profitable proposition so that people will invest.”

For his part, current Agriculture Secretary William Dar has promised to coordinate with the transition team of the coming administration regarding the agency’s proposed 10-year plan alongside its food sufficiency programs.

 

Source: ABS CBN

Comments are closed for this article!

Subscribe to Our Newsletter and get a free pdf:

Sign Up for negosyante news

and receive a copy of The Crypto Cheat Sheet (PDF)
and NFT Cheat Sheet for free!

* indicates required