‘Like other consumers, I am buying my family’s basic commodities either at a grocery store or wet market, and yes, I truly felt the sting of soaring prices after placing my wallet back in my pocket.’
THE Philippines, as we all know, is an agricultural country and very rich in natural resources.
Our leaders, allies, and even invaders know the Philippines’ potential. Unfortunately, it remains a potential to this day. No one can be blamed except us, voters.
Many voters like you and me, who will cast votes again during next year’s election, hope that those we elected will not make our lives more miserable than they are today and will be able to fulfill the Philippines’ true potential.
However, methinks the soaring food prices should take center stage during the mid-term election on May 12, 2025. Why? Our history made us aware that unabated rising prices of basic commodities can lead to political instability while increasing the number of hungry people on the streets can result in sectarian violence. This can be avoided if we, the voters, make the right choice.
Citing FAO’s State of Food Security and Nutrition, Rise Against Hunger said on its website, that 44.7 percent of the Philippine population faces moderate, or severe food insecurity, while 29 percent of Filipino children are affected by stunted growth.
Interestingly, those who have nothing to eat rarely have a political voice, and therefore can easily be instigated into political unrest by other people with their agenda.
Have you ever wondered why non-cooked food such as pork, chicken, beef, goat, fish, cooking oil, vegetables and fruits are more expensive in the Philippines compared to Japan, Singapore, South Korea, Thailand, Malaysia and Indonesia?
According to the National Economic Development Authority (NEDA), the food inflation in the Philippines is currently 4.2 percent.
FXEmpire said that Japan’s food inflation is 3.4 percent while Singapore recorded 2.7 percent, South Korea’s 2.04 percent, Thailand’s 1.83 percent, Malaysia’s 1.6 percent and Indonesia’s 3.39 percent.
Comparing the data of FXEmpire with that of our NEDA, it is safe to assume that the cost of food in Japan, Singapore, South Korea, Thailand, Malaysia and Indonesia is much cheaper than in the Philippines.
Like other consumers, I am buying my family’s basic commodities either at a grocery store or wet market, and yes, I truly felt the sting of soaring prices after placing my wallet back in my pocket.
Back in 1986, the price of local galunggong at P30 per kilo became a national issue. In fact, former President Cory Aquino used horse mackerel to illustrate how hard life was under former President Ferdinand Marcos Sr.
We all know what happened to the dad of President Ferdinand Marcos Jr. Today, if you go to a wet market in Metro Manila, the price of imported galunggong ranges from P180 to P320 per kilo.
So, what is keeping the costs of food high?
An eye test shows that many rice fields and orchards have been turned into socialized housing units or luxurious subdivisions with golf courses, among others.
Sadly, our nation’s leaders and their alter egos opted for an easy and short-sighted solution rather than laying down an infrastructure that their compatriots would still remember them even if they were already six feet below the ground.
Our country has become heavily dependent on importing non-cooked food such as rice, galunggong, pork, beef and chicken, among others.
The food inflation we are experiencing could have been aggravated when the Financial Action Task Force (FATF), a Paris-based global financial watchdog, placed our country under a grey list in 2021.
Among the effects of greylisting our country by the FATF are higher inflation, costlier processing fees and increased scrutiny from banks.
To be removed from FATF’s grey listing, our government, particularly the Executive led by President Marcos Jr. and Congress, led by Senate President Chiz Escudero as well as Speaker Martin Romualdez, must address the weaknesses that have been identified by FATF in the controls against money laundering, terrorist financing and proliferation financing.
It is doable, attainable and achievable provided our country’s leaders could set aside their personal interests and start prioritizing what the Philippines as a country, government and people truly needs to the realization of our country’s potential to be a great nation.
