President Ferdinand Marcos Jr. on Wednesday assured the public of adequate supply of basic goods as the government stepped up efforts to keep prices stable amid global uncertainties.
Agriculture Secretary Francisco P. Tiu Laurel Jr. said current assessments show that supply remains sufficient, particularly for rice and other key food items.
“While price adjustments are understandable at a time when fuel and transport costs are rising, profiteering and hoarding are not,” he said.
Laurel added that the government has secured key agricultural inputs and is providing assistance to farmers to help manage production costs and prevent sharp increases in consumer prices.
Both the Department of Agriculture and the Department of Trade and Industry said they are consolidating price data from markets and suppliers nationwide. Authorities said they are ready to implement interventions under existing laws if unreasonable increases in the prices of basic necessities and prime commodities are confirmed.
Trade Secretary Maria Cristina A. Roque said 21 manufacturers have committed to maintaining current prices of basic goods for the next 30 to 60 days following a meeting with the government.
“We commend the proactive commitment of our manufacturers to sustain price stability within a changing cost environment,” Roque said, noting that close coordination between government and industry is key to keeping essential goods affordable for Filipino families.
The monitoring is part of ongoing government efforts to guard against possible price spikes, as tensions in the Middle East raise concerns over higher fuel and transport costs that could affect food prices.