Connect with us

Hi, what are you looking for?

Stock Markets

Finance dep’t flags inflation risk from calamities, wants other provinces to also cultivate vegetables

THE Department of Finance (DoF) said the December uptick in inflation highlighted the vulnerability of the food supply to calamities, and called for the development of other vegetable-growing regions to guard against any disruptions to the transport links or storm damage to intensively-farmed areas.

In an economic bulletin Monday, the DoF attributed the 3.5% inflation reading in December to the surge in prices of vegetables and meat, which rose 19.7% and 10% year on year, respectively.

“Vegetable supplies were dented by the successive typhoons that swept the country during the last quarter. Meat was adversely affected by the African Swine Fever (ASF),” it said.

The price of rice also rose 0.1%, completely reversing the 4.45% decline seen the year prior, after rice-growing regions such as the Cagayan Valley and Bicol sustained serious damage from typhoons and flooding in November.

“The (Department of Agriculture’s) food programs may have to be re-strategize so that unaffected regions can supply alternative supplies of vegetables to typhoon-battered regions immediately after a typhoon,” the DoF said.

Last month’s inflation number pushed the 2020 average to 2.6%, up from 2.5% in 2019 but well within the central bank’s 2-4% target.

To address the rising price of meat, the DoF also called on the DA to roll out a “stronger program to stamp out” ASF.

In a statement Monday, Agriculture Secretary William D. Dar said the DA has signed partnerships with two organizations to curb the spread of ASF and help restore the hog population.

Mr. Dar said the Univet Nutrition and Animal Healthcare Company and the Philippine College of Swine Practitioners will also help implement a local ASF surveillance system to help with early detection of the disease.

The DA had yet to respond to requests for comment at deadline time. — Beatrice M. Laforga

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Breaking News

SEC probing Nikola Motors over short-seller claims of fraud – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-14T23:20:04Z Massimo Pinca/Reuters The Securities and...

Breaking News

The $160,000 SS Dolphin is a hybrid 1950s Corvette clone from China – Business Insider Amazon Prime Day Business Insider logoThe words “Business Insider”....

Breaking News

Best exercise bikes of 2020: NordicTrack, Peloton, & others – Business Insider Business Insider logoThe words “Business Insider”. Back to TopA white circle with...

Breaking News

Today, webmasters need to do everything possible to keep up with the competitors. Ideally, they should do everything possible to beat them. This,...

Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Captain Of Success. All Rights Reserved.