A House resolution has been filed to urged the national government to build ample reserves of essential grains, to cushion the Philippines from highly explosive global commodity prices and potential shortages.
House Resolution 2806 calls on the National Food Authority to establish strategic stockpiles of milled soya and other indispensable grains, apart from rice and corn.
Rep. Arnel Ty (LPG-MA), a member of the House committee on trade and industry who introduced the resolution, said in a press release.
Ty’s resolution came after corn andsoybean pricessoared due to the harsh drought in the United States Midwest, which has demolished crops.
While the lack of rainfall has waned, Ty said “brutal climate change all over the world has nonetheless betrayed the helplessness of net food-importers such the Philippines, amid volatile commodity prices due to severe dry spells half of the year and excessive flooding in the other half.”
He cited the case of soybean with milled soya prices hit P36 per kilo from P27 in August and from only P22 in July,” he said.
“Our hog growers are totally dependent on milled soya, a rich source of protein, to produce high-quality pork at prices within reach of Filipino consumers,” Ty said.
The typical animal feed used by local hog growers is composed of 50 percent corn, 25 percent soya meal from soybean, and 25 percent polard, plus multivitamins, fish meal and coconut oil, the press release said.
In other parts of the world, Ty said livestock production has already fallen by seven percent as a result of unusually elevated soybean and corn prices.*