Gov't urged to explore ways to ensure food security, address inflation

The government has many options to boost productivity and ensure food security in the country, International Investment Banker Stephen Cuunjieng told ANC on Thursday.

In Japan there are subsidies for farmers, while in Thailand and Vietnam the cooperative system drives small farmers to increase productivity, he said, adding that these could be done in the Philippines. 

“If you want to leave existing farms small that’s fine. But you have to have a proper coop system. It works in Vietnam, it works in Thailand where they have small farmers but they’re forced to have coops so they have 4 times productivity,” Cuunjieng said.

"There are solutions, they’re not easy. They’ve not been done in the Philippines previously but it doesn’t mean it can't be done. It is hard, but it doesn’t mean it’s wrong," he said.

Food supply woes are causing the surge in prices of basic commodities such as onions. 

Inflation in January reached a fresh 14-year high of 8.7 percent driven by higher housing, rental and power costs as well as the continued increase in food prices.

• Inflation quickens to 8.7 pct in January as housing, water, power costs rise
• Eye-watering onion prices make Philippine staple a luxury