DA plans to create P5-B buffer fund

The Department of Agriculture (DA) may start imple- menting a P5-billion buffer fund next year that will al- low it to stockpile basic commodities, such as rice and meat, and sell these at more affordable prices during extreme situations such as supply shortages and price manipulation in the market.

- JASPER EMMANUEL ARCALAS

Agriculture Secretary Francisco Tiu Laurel Jr. said the budget has been approved in principle by President Marcos, with possible funding sources already identified.

Tiu Laurel said he cannot yet disclose the funding source, but he emphasized that there are currently "several" options on the table.

"But for next year, we are almost sure that we can get that P5 billion buffer fund or fund to be able to use in case we have to trigger the price action," he said.

The agriculture chief emphasized that the buffer fund is critical in ensuring stable prices of goods in the market.

He said the mechanism has been legally existing since 1992 but has not been operationalized.