National Price Coordinating Council closely watching effects of El Nino on prices, supply of agricultural products – DTI

April 10, 2019

An interagency National Price Coordinating Council is closely watching the effects of El Nino on prices and supply of agricultural products, the Department of Trade and Industry said on Wednesday.

In a press briefing in Malacanang, DTI Undersecretary Ruth Castelo said the DTI was set to convene the NPCC later Wednesday to discuss the current prices and supply situation of basic and prime goods and its forecast for the upcoming months.

"The NPCC will particularly do a close watch on the effects of El Niño on the price and supply of agri(culture) products. The possibility of a stronger and prolonged El Niño episode together with the continued rise in global crude oil prices, provide upside price pressures over the near term and this is why government needs to be ready," she said.

Some areas in the country have already declared a state of calamity due to the dry spell being experienced.

"The NPCC intends to come up with measures to mitigate the effects of El Nino on the prices and supply of agricultural goods in the market," Castelo said.

Asked of the possible ways to help farmers continue with their production of agricultural products, she said, "top of the mind would be irrigation - how can we keep the water supply flowing in the fields."

Philippine Atmospheric, Geophysical, and Astronomical Services Administration has projected El Nino phenomenon to diminish by June but the effect would remain up to two months or until August. Celerina Monte/DMS