AMID persistent inflation and warnings of ongoing price pressures, Speaker Martin Romualdez emphasized on Saturday that lowering the cost of essential goods is an urgent priority for the Marcos administration.
For Romualdez, reducing prices is not merely a long-term objective but an immediate necessity to ensure that every Filipino can afford basic necessities.
In his remarks, the Speaker stressed that high prices for food and everyday items directly impact families across the country. “When the cost of food and other essentials is high, it affects every Filipino household,” he said, urging government officials to adopt strategies that keep prices in check.
He explained that addressing inflation requires a twofold approach: maintaining a stable monetary policy while simultaneously boosting domestic production to ensure a consistent supply of goods.
The government has already taken measures to counter food price volatility. One notable step is the Department of Agriculture’s recent move to finalize a 55,000-metric-ton minimum access volume quota for pork imports.
This initiative is designed to stabilize pork prices by allocating 30,000 metric tons for meat processors, 10,000 for traders, and 15,000 metric tons for price stabilization by the DA. While these import measures offer short-term relief, Romualdez stressed that long-term food security hinges on investing in local agriculture.
He also highlighted recent progress in La Union and Pangasinan, where 32 farmers’ cooperatives received agricultural machinery under the Rice Competitiveness Enhancement Fund Mechanization Program.
With the program’s annual budget increased to P9 billion for its second phase, improved mechanization is expected to boost yields and lower food costs.
Ultimately, Romualdez urged that a stable, affordable food supply is essential for economic well-being, and continued efforts to reinforce local production and supply chains remain vital.
