A coalition of farmers, hog raisers, and poultry industry representatives is calling on the Department of Agriculture (DA) to prioritize solutions that will alleviate rising prices of agricultural products.

The group also aims to protect Filipino consumers from the escalating costs of basic commodities.

Data from the DA’s Bantay Presyo program from 1 May to 5 September 2024 revealed a significant increase in the prices of essential agricultural goods. Palm oil prices surged by 8.06 percent, coconut oil by 4.48 percent and corn by a staggering 23.08 percent during this period.

The escalating costs, particularly in vegetable oils, are impacting the supply chain. Palm oil, a major import, is a key component in feed production, contributing to higher pork and poultry prices.

The Philippines' heavy reliance on imported vegetable oil makes it vulnerable to price fluctuations in global markets, directly affecting food affordability, especially for lower-income families.

Livestock and poultry producers, who depend heavily on these oils for feed, are grappling with soaring operational expenses. These increased costs are being passed on to consumers through higher prices for pork, chicken, and other essential food items.

The group added that the strain on consumers is undeniable, as a recent survey by Social Weather Stations (SWS) found that 58 percent of Filipino families now consider themselves poor, a significant increase from 46 percent in March.

Meanwhile, a Pulse Asia survey confirmed that inflation remains the top concern for Filipinos, further highlighting the mounting financial pressure.