PRESIDENT Ferdinand Marcos Jr. on Wednesday said that “everything is normal” as he assured the public that there was sufficient supply of food and fuel products in the country despite the oil price shocks triggered by the war in the Middle East.
Speaking to reporters after inspecting the Agora Market in San Juan City, Marcos said that the government was “able to keep everything at normal levels.”
“Right now, we don’t have a problem on food supply. We don’t have a problem on supply of petroleum products, including fertilizer for the farmers,” Marcos said.
“Everything is normal. No need to hoard,” he added.
Marcos said government officials have been visiting public markets to ensure that food prices do not spike amid the war in the Middle East.
He commended vendors for their cooperation, saying that the suggested price cap set by the Department of Trade and Industry (DTI) was being followed.
“Our vendors are cooperating. They are keeping the prices at normal from what they were maybe a month ago. It’s the same. So that’s what we need to maintain,” the president said. “We thank the vendors for agreeing not to raise prices, not to engage in price gouging, and not to take advantage.”
Despite this, the president said inspections would continue as uncertainty remained during the duration of the conflict in the Middle East.
“Inspections will continue so that the livelihoods of our people are not heavily affected,” he said.
During the event, Marcos, along with Trade Secretary Cristina Roque and Agriculture Secretary Francisco Tiu Laurel, engaged with vendors and market stakeholders to gain firsthand insights on price trends and supply availability.
Roque said manufacturers of basic goods, including canned sardines, bread, bottled water, instant noodles, coffee, canned meat and soap, have committed to maintaining current prices for the next 30 days.
“We commend the proactive commitment of our manufacturers to sustain price stability within a changing cost environment,” Roque said.
She said the collective effort was intended to keep basic goods affordable for Filipino families.
Tiu Laurel, on the other hand, said the DA was studying the possible implementation of price caps on imported rice due to a reported increase in retail prices, which have reached P60 to P65 per kilo in some markets.
The DA is considering a P50 per kilo price cap on imported rice to curb rising costs driven by increased freight rates.
“While price adjustments are understandable at a time when fuel and transport costs are rising, profiteering and hoarding are not,” Tiu Laurel said.
Meanwhile, vendors and consumers praised Marcos for his hands-on leadership during his visit to the Agora Public Market in San Juan City.
Agora vegetable vendor Ana Maguddayao said the president’s visit and monitoring efforts were beneficial in keeping prices of basic goods such as rice stable.
Marketgoer Julian Atibagos also welcomed the president’s visit, saying it was encouraging to see him in person, helping people and extending support to those in need.
The market also features a Kadiwa ng Pangulo stall offering P20 rice for vulnerable sectors, including senior citizens, persons with disabilities, solo parents, 4Ps beneficiaries, Indigenous peoples, minimum wage workers and other low-income families.
