The Kilusang Magbubukid ng Pilipinas (KMP) has raised concerns over the impact of the ongoing tensions in the Middle East on the country’s agriculture sector.
In a statement, the group said farmers are being left with little more than mounting debt.
As oil prices continue to rise, production costs are also increasing, it added.
The group also claimed that the government has allowed farm input prices to remain unregulated.
KMP stressed that the price of fertilizer has surged to as much as ₱2,000 per 50-kilo sack.
It noted that the Department of Agriculture (DA) and the Fertilizer and Pesticide Authority have the authority to impose price controls, but have yet to do so.
The group warned that without concrete measures to address the oil crisis and rising farm input costs, the country’s food situation could worsen.
It added that failure to heed calls to remove excise tax and value-added tax (VAT) may further affect food supply.
