President Ferdinand Marcos Jr. said major food processors and retailers have committed to keeping prices of basic goods steady for up to two months, as the government moves to cushion the potential impact of ongoing tensions in the Middle East.
In a brief media briefing following his inspection of Century Pacific Food Inc.’s distribution center in Calamba, Laguna, Marcos assured the public that the country’s food supply remains stable and sufficient.
“Not only Century, but various food processors and retailers as well — we have adequate stock,” the President said.
He added that industry players have voluntarily agreed to defer price increases for as long as possible.
“For now, they won’t increase prices… perhaps for about a month, and for some maybe up to two months, prices will remain unchanged,” he said.
Marcos emphasized that the government continues to closely monitor market conditions to ensure the affordability and availability of essential goods.
Earlier this week, following an inspection at Agora Market in San Juan City, the President likewise reported no disruptions in food supply, noting that vendors have been cooperative in maintaining stable prices.
“And from what we can see, the price caps set by the Department of Trade and Industry are being followed. The Department of Agriculture is also confident that the supply is sufficient,” he said.
The President also urged the public and traders to avoid panic buying and hoarding, stressing that there is no need to exploit the situation.
“There’s no need for hoarding… please don’t take advantage of the situation. And it seems that they are not doing so,” he added.
