MANILA – The Department of Trade and Industry (DTI) sees prices of vegetables going up due to drought caused by the El Niño phenomenon, an official said Wednesday.
“It is a possibility,” Trade undersecretary Ruth Castelo said at a news conference in Malacañang. “Gulay talaga iyong binabantayan natin because of the drought now happening in several regions in the country, so production has halted I understand.”
She then assured the public of the government’s commitment to minimize the effects of El Niño on agriculture.
“The NPCC [National Price Coordinating Council] will particularly do a close watch on the effects of El Niño on the price and supply of agri 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,” Castelo said.
The National Economic and Development Authority (NEDA) said last month that El Niño will only have a slight impact on agricultural production in the country.
Initial estimates from NEDA showed that El Niño would slash a mere 0.2 percentage points from the country’s full-year gross domestic product (GDP) growth
The agency also expressed optimism that the inflation rate will settle within the target range of 2 to 4 percent this year despite the droughts, dry spell, and reduced rainfall brought by El Niño. (GMA News)
