Philippines: Vegetable prices drop significantly

Source: Fresh Plaza

According to the chiefs of the Department of Agriculture (DA) and the Department of Trade and Industry (DTI), prices of vegetables dropped significantly in the Philippines, while prices of non-agricultural products remain stable.

“Our [vegetable] prices are significantly lower at an average of 50 percent, much lower compared to February,” DA secretary William Dar said on Wednesday. He added that the supply of vegetables is abundant and prices are low. For non-agricultural products, DTI Secretary Ramon Lopez said there have been no price increases for basic necessities and commodities since September 2019.

Both officials vowed to monitor the movement of prices and supply of food products in the domestic market to ensure that Filipinos would not be faced with higher food prices while struggling amid the pandemic. March 2021 inflation eased to 4.5 percent from the 26-month high of 4.7 percent in February. The Philippine Statistics Authority (PSA) attributed the rising inflation rate to higher food prices since the start of the year.