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PRESIDENT Ferdinand R. Marcos Jr. plans to handle rising inflation by lowering the nation’s reliance on imported meals staples.
In a press convention after his first Cupboard assembly on Tuesday, Marcos stated he intends to unravel the nation’s meals provide considerations by boosting native manufacturing of rice and corn.
“We would favor to import as little as attainable. So we should always enhance our personal manufacturing of rice and corn,” Marcos stated.
He famous the nation wants to extend its manufacturing of corn, which is getting used as a feed substitute for imported wheat.
“This season, the corn growers had been in a position to come collectively and supply ample feed for the broiler manufacturing. However we nonetheless have to extend manufacturing of corn to make sure that provide as a result of there’s additionally—there’s corn for meals and there’s corn for feed,” Marcos stated.
Brief-term response
Marcos stated he desires to supply authorities intervention to farmers earlier than the final planting season this yr as a “short-term”
resolution to the nation’s meals provide considerations.
“They’ll harvest in the direction of the top of the yr, they may mill quickly after that. So we might be able to meet up with our meals provide downside by then,” Marcos stated.
However relating to pork, Marcos stated the nation has no selection however to proceed importing it since native hog farmers are nonetheless reeling from the consequences of the African Swine Fever (ASF).
He stated it was additionally the identical case for poultry as a result of points with feed provides.
“On the broiler facet, the rooster manufacturing, broiler manufacturing, we can even nonetheless should import as a result of now we have issues with feeds,” Marcos stated.
Imported inflation
On Tuesday, the Philippine Statistics Authority (PSA) reported the inflation charge accelerated to six.1 p.c in June in comparison with 5.4 p.c in Might.
PSA famous the spike in meals and nonalcoholic beverage was one of many most important contributors to the excessive inflation charge.
Marcos stated the nation’s inflation charge may very well be decrease than what was acknowledged by PSA.
“I feel I must disagree with that quantity. We aren’t that top,” Marcos stated.
He blamed the nation’s excessive inflation charge on exterior components.
“A lot of our inflation is definitely imported inflation. It’s imported as a result of it’s the inflation on the merchandise which have suffered inflation that we import,” Marcos stated.
Picture credit: Nonie Reyes
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