September 29, 2022

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Marcos vows to boost Philippines’ grains output to avert food crisis

Ferdinand “Bongbong” Marcos Jr., waves to the viewers after having oath as the 17th President of the Philippines for the duration of the inauguration ceremony at the Countrywide Museum in Manila, Philippines, June 30, 2022. REUTERS/Eloisa Lopez/File Picture

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MANILA, July 4 (Reuters) – Philippine President Ferdinand Marcos Jr vowed on Monday to do what it requires to improve his country’s rice and corn manufacturing, trying to get to lower reliance on imports and steer clear of remaining strike tough by a meals disaster now looming throughout the globe.

Marcos, who was sworn in as president last week and has appointed himself agriculture minister, explained the Philippines – the world’s 2nd-greatest rice importer – was now at a disadvantageous position about its meals offer.

“When we glance about the planet, absolutely everyone is making ready for it,” Marcos claimed in the course of a conference with senior agriculture officials, referring to the meals disaster.

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“So we really should really pay back close consideration to what we can do.”

Marcos comes to electricity at a significant time, with inflation at its optimum in extra than three yrs and as the globe faces a tightening food stuff provide, ensuing from the conflict involving important cereals exporters Russia and Ukraine.

A transcript of the meeting supplied by the presidential talked about no specific remedial steps or targets, but Marcos mentioned the federal government would make certain affordability of food stuff price ranges.

To assure extended-time period food stuff sufficiency and affordability, Marcos reiterated a campaign promise to “reconstruct our benefit chain”, within his 6-yr term, to lessen dependence on food items imports.

He also sought a overview of a 2019 Rice Tariffication Law, which opened the Philippine door broader to imports by taking away the annual quota on purchases and restricting the government’s part in rice trade to making certain source throughout emergencies.

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Reporting by Enrico Dela Cruz Editing by Martin Petty

Our Criteria: The Thomson Reuters Belief Concepts.