DA’s budget hike to support food security, lower prices
THE Department of Agriculture (DA) is seeking an almost 40% hike in its 2023 budget to help the agency strengthen food security by increasing local food supply and lowering food prices, House Appropriations Committee Chair Representative Elizaldy Co said on Monday.
“The P46.5 billion or 39.62 percent increase in the Agriculture Sector’s budget from 2022 to 2023 is unprecedented. The increase is from P117.29 billion in the 2022 GAA (General Appropriations Act) to P163.75 billion in 2023 National Expenditure Program (NEP),” Co said at the opening of the hearing on DA’s budget.
“This budget increase should ensure the country’s food security meaning, as per President Marcos’ directive, local food supply should increase and, by the law of supply and demand, result in lower food prices,” he stressed.
President Ferdinand “Bongbong” Marcos, Jr., concurrently Agriculture Secretary, emphasized in his first State of the Nation Address (SONA) that agriculture will be the “main driver” for economic growth and job creation.
“The President’s pronouncement, together with this unprecedented budget increase for agriculture, acknowledges the many challenges that the sector faces and affirms his support for the sector.
This recognition from the highest official of the land should facilitate the recovery from the food crises that abound in the agriculture sector,” said Co.
Over the past few weeks, prices of sugar, salt, onion, and garlic have risen due to supply chain issues. The war in Ukraine has also caused a continuing spike in oil and wheat prices, creating an uptick in the cost of other goods and services. Co said the increased agriculture budget should help the country overcome these difficulties.
“The road ahead is difficult but surmountable. As the nation embarks on a new chapter of socio-economic transformation, the agriculture sector must remain at the forefront of our collective effort to create more jobs and reduce poverty, and improve the lives of every Filipino, especially farmers and fishermen,” he said.
Co said the House of Representatives, led by Speaker Martin G. Romualdez, supports the President in building and strengthening the agricultural sector.
“This institution is united with the President in building and strengthening the foundations of our agricultural economy for an even stronger national food security. We strive for a more prosperous, climate-resilient, and empowered Filipino countryside,” he added.
