Rise in food prices seen as ‘Maring’ toll mounts | Inquirer Business
Close  

Rise in food prices seen as ‘Maring’ toll mounts

By: - Reporter / @kocampoINQ
/ 04:04 AM October 19, 2021

Food inflation will likely accelerate this month as the extensive damage caused by Severe Tropical Storm “Maring” on the country’s agriculture sector continues to mount, said Agriculture Secretary William Dar.

Maring’s toll on agriculture has already reached P2.17 billion as of Monday morning, Dar said in a briefing, as the heavy volume of rainfall due to Maring triggered flash floods in several provinces in Northern Luzon.

ADVERTISEMENT

Days after the storm devastated farmlands and fishing areas earlier this month, prices of vegetables in Metro Manila public markets rose by as much as P20 per kilogram.

The majority of vegetables in the metropolis come from the Cordillera, where there was significant drop damage due to the continuous rains caused by Maring.

FEATURED STORIES

As of Monday, prices of upland vegetables have normalized.

The country’s inflation rate of 4.8 percent in September, according to Bangko Sentral ng Pilipinas Governor Benjamin Diokno, was due to rising fuel, utility, and food prices.

While meat prices eased during the period, this was offset by higher prices of fruits, vegetables, and rice. The same trend may be observed in October. INQ

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, food prices
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.