CAGAYAN DE ORO CITY (PIA) -- The government remains steadfast in its efforts to mitigate the effects of inflation and safeguard the interests of consumers and farmers.

Ferdinand Caraballe, the Department of Agriculture (DA) regional supervising agriculturist, highlighted the department's ongoing programs aimed at assisting farmers in mitigating inflationary pressures. These initiatives include mechanization assistance and fertilizer vouchers.

"As much as possible, we want to subsidize the major expense component of the farmer: the seeds, the fertilizer, libre na ang irrigation (irrigation is now free), and the mechanization. So, with that subsidy, we look forward to lowering the cost of production for the farmer," he said during a press briefing on northern Mindanao's Inflation Report for March 2024, held on April 12.

Caraballe also emphasized the promotion of regionally suitable crop varieties and the adoption of hybrid seeds to optimize yield.

Furthermore, he revealed that DA's rice banner program now has a larger budget allocation in an effort to reduce production costs and stabilize rice prices.

According to the latest inflation report by the Philippine Statistics Authority (PSA)-10, the region recorded a 3.9 percent inflation rate in March 2024, marking a 0.5 percentage point increase from February.

Food and non-alcoholic beverages are sectors experiencing heightened inflation, particularly vegetables, tubers, plantains, and pulses, with eggplant being a significant contributor. Cereals and cereal products, particularly rice, also saw a notable uptick in inflation, alongside fruits and nuts, with fresh bananas being the primary source.

In addition to the DA's efforts, the Department of Trade and Industry (DTI) is collaborating with suppliers and manufacturers to refine suggested retail prices (SRP) and ensure a balance between business interests and consumer welfare.

Julie Nieva-Costales, information officer of DTI-10, also emphasized the agency's focus on consumer education initiatives and ongoing price monitoring of essential goods.

Costales also highlighted DTI's three-year food logistics action agenda, aimed at reducing transport expenses and enhancing efficiency within the food supply chain.

"DTI has approved a three-year food logistics action agenda. So, together with other government agencies, this is a whole-of-nation approach, wherein the aim is to reduce transport and logistics costs and also have an efficient food supply chain," she said.

The action agenda addresses various supply chain gaps, including logistics, distribution, post-harvest management, market linkages, and market information, to ensure the availability, accessibility, and affordability of food for Filipinos.

"Ang ato gyud aim ani pud is to cut the traders, kay mao manay makamahal sa presyo (our main goal here is also to eliminate traders because they can drive prices up)," she added.

Meanwhile, the Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc., is doing its part to help farmers cope with the inflation pressures. It is currently preparing for the "Elevate Agriculture Convention and Exhibit" in July, aimed at empowering farmers with entrepreneurial skills.

Queritess Queja, executive director of the Oro Chamber, emphasized the initiative's goal of transforming farmers into entrepreneurs through a variety of activities.

"It will be a convention and exhibit, but along the way, we will have a series of activities to ensure nga naay 'buy-in' ang atong (there is a buy-in from the) agricultural sector, especially the farmers and fisherfolk," Queja remarked.

The convention will focus on aquaculture products, as well as vegetables, coffee, cacao, bananas, and abaca. (APB/PIA-10)