Farmers’ debt condonation bill to boost production, food security

By Filane Mikee Cervantes

MANILA – Speaker Mar- tin Romualdez on Friday said the anticipated signing into law of the bill condoning the debts of agrarian reform benefi - ciaries totaling PHP57.55 billion would help farmers increase their productivity and attain food security in the country.

In a statement, Romualdez said the measure, which is now awaiting the signature of President Ferdinand

R. Marcos Jr. would free 610,054 farmers from debts owed in acquiring agrarian reform lands with a combined area of 1,173,101 hectares.

“When our farmers are freed from the burden of debt, they would be able to invest more in their land and improve their productivity. This can lead to better yields and profits, which can help improve the lives of our farmers and their families,” Romualdez said.

“This relief to hundreds

Inflation likely down anew in May: economist

MANILA – Headline inflation will likely decelerate to 6.1 percent in May due to lower prices of food, an economist said Friday.

"Some food prices already started to ease recently on better weather conditions that led to some increase in supply that helps in lowering food prices, after some storm damage in the latter part of 2022 up to early 2023, especially the shear line that hit some parts of the Visayas and Mindanao," Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort told the Philippine News Agency (PNA).

Inflation declined for the third consecutive month in April, settling at 6.6 percent from 7.6 percent in March.

According to Ricafort, prices of some agricultural commodities continued to correct lower.

He said the decline could be attributed to the limited importation of sugar and onions, the one-year extension of the reduced import tariffs on meat, rice, corn, coal, among others, as well as other nonmonetary measures to help improve local supply and lower the prices of food and other agricultural products.

Ricafort said prices of other global commodity such as wheat, soybean, natural gas, coal, iron, steel, copper, nickel, also declined and could help ease inflationary pressures for the coming months.

"The anniversary of the local wage hikes, transport hikes, and second-round inflation effects starting June to July 2023 would quantitatively lead to further year-on-year deceleration of year-on-year inflation in the second half of 2023 due to much higher inflation base effects by then that could potentially lead to much slower inflation rate to as slow as 3% to 4% year-onyear levels by the latter part of 2023," Ricafort said.

The peso exchange rate currently at 55.20 levels, could also help reduce importation costs and support further rollback in local fuel pump prices and help ease overall inflation, he said. (PNA) of thousands of agrarian reform beneficiaries gains even more significance now that we are facing the twin challenges of increased prices of farm inputs, particularly fertilizers, and the harmful effects of climate change on the agriculture sector,” he added. productivity and help us attain food security,” he said.

Romualdez vowed that the House will continue to explore more avenues to revitalize the country’s agriculture sector.

KADIWA STORE. In celebration of National Farmers’ and Fisherfolk’s Month, various exhibitors showcase their products at the office of the Department of Agriculture 11 (Davao) on Bangoy Street, Davao City. Among the exhibitors were the Calinan Rural Improvement Club, the Association of Davao Organic Advocates, and Tribal Associations. The month of May is proclaimed as National Farmers’ and Fisherfolk’s Month to give due recognition to the contributions of the farmers and fisherfolk in ensuring food security and sustainability. (PNA

The bill is among the 31 measures the House of Representatives has approved to date, out of the 42 priority measures President Marcos has identified through the LegislativeExecutive Advisory Council (LEDAC).

He said the measure would complement the various programs and assistance provided by the Department of Agriculture (DA) to uplift the lives of farmers.

“We need to provide our farmers all the support we can to promote increased

He noted that when the price of onion surged to over PHP700 a kilo last December, he has called for a congressional investigation to bring prices down for consumers and protect local farmers from exploitation by a cartel that corners supply and manipulates prices.

He likewise urged authorities like the National Bureau of Investigation, the Philippine Competition Commission and the DA to work together and pursue the leads obtained in the congressional hearings to build an airtight case against the onion cartel.

(PNA)