SPEAKER Ferdinand Martin G. Romualdez has declared that lowering the cost of essential goods and ensuring economic stability remain the Marcos administration’s top priority.

This after the inflation remains the foremost risk to the Philippine economy, as reflected in the recent Moody’s Analytics report warning of persistent price pressures and potential disruptions to monetary easing.

“Pagpapababa ng presyo ay hindi lamang isang pangmatagalang layunin—ito ay isang agarang pangangailangan. Kapag mataas ang presyo ng pagkain at bilihin, direktang naaapektuhan ang bawat pamilyang Pilipino. Kaya naman, bilang mga lingkod-bayan, obligasyon nating siguruhin na may sapat na pagkain sa abot-kayang halaga,” Romualdez said.

The latest economic data indicate that while inflation eased to 2.9 percent in January 2025, food inflation rose to 4 percent reflecting the country’s supply chain vulnerabilities. According to Moody’s Analytics, external factors such as global trade frictions and domestic challenges — including typhoon damage to agricultural production — keep inflation risks elevated.

In response, Romualdez underscored the need for a dual approach: maintaining sound monetary policy while taking decisive action to bolster domestic production.

“Ang pagtugon sa inflation ay hindi lang trabaho ng Bangko Sentral. Dapat itong sabayan ng matalinong pamamahala sa suplay ng pagkain at iba pang pangunahing bilihin. Ang layunin natin ay tiyakin na ang presyo ay hindi basta tataas-bababa nang walang direksyon. Dapat nating gawing matatag at predictable ang ating food supply para sa kapakanan ng mga mamamayan.”

One of the government’s immediate responses to food price volatility is the Department of Agriculture’s (DA) finalization of a 55,000-metric-ton minimum access volume (MAV) quota for pork imports. This measure aims to stabilize pork prices and ensure sufficient supply. Under this quota, 30,000 metric tons are allocated to meat processors, 10,000 metric tons to traders, and 15,000 metric tons to the DA for price stabilization. Tariffs remain at 15percent within the quota and 25 percent beyond it.

However, Speaker Romualdez stressed that while importation can address short-term shortages, long-term food security depends on boosting domestic agricultural production.

“Ang importasyon ay panandaliang solusyon, ngunit hindi ito pwedeng maging pangmatagalang estratehiya,” he stated. “Dapat tayong mag-invest sa modernisasyon ng ating agrikultura, mula sa pagpapalakas ng biosecurity measures sa pag-aalaga ng baboy hanggang sa pagpapahusay ng suplay ng pagkain ng ating mga livestock farmers. Kung hindi natin aayusin ang ugat ng problema, mananatili tayong umaasa sa importasyon.”

Similarly, the House leader noted that efforts to strengthen local production are already underway.

In La Union and Pangasinan, 32 farmers’ cooperatives and local government units recently received 35 agricultural machines worth P71.6 million under the Rice Competitiveness Enhancement Fund (RCEF) Mechanization Program.

With the program’s second phase set to receive an increased P9-billion annual budget, Speaker Romualdez expressed confidence that improved mechanization will translate to higher yields and lower food costs.

Market data also reflect mixed price movements in staple goods. The average retail price of rice slightly declined to P54.18 per kilogram in early February, with regular-milled rice experiencing a decrease while special rice saw a marginal increase. Meanwhile, meat prices—including fresh pork kasim—rose compared to the previous month.

AUTHOR PROFILE

Jester P. Manalastas