MANILA, Philippines — The government is adopting measures to mitigate the effects of the current El Niño, particularly on the prices and supply of agricultural goods in the market.
Trade Undersecretary Ruth Castelo said agencies under the government’s National Price Coordination Council (NPCC) would meet on Wednesday “to do a close watch on the effects of El Niño on the prices and supply of agricultural products.”
“The DTI would convene the National Price Coordination Council (NPCC) on 10 April 2019 to discuss about the current prices and supply situation of basic and prime goods, and its forecast for the upcoming months,” Castello said in an economic briefing in Malacañang.
The trade official said “the possibility of a stronger and prolonged El Niño epsisode together with the continued rise in global crude oil prices provide upside price pressures over the near term.”
“The NPCC intends to come up with measures to mitigate the effects of El Niño on the prices and supply of agricultural goods in the market,” she added.
The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) has predicted that El Niño would last until the end of May or June. /je