Agriculture Secretary Francisco P. Tiu Laurel Jr. underscored the critical need for regional cooperation and enhanced market linkages to secure food supplies across Southeast Asia.
The Philippines is pitching for more than $57.4 million in new investments across five key farm and food sectors at this week’s Hand-in-Hand Initiative Investment Forum in Rome, according to the Food and Agriculture Organization (FAO). The push builds on the country’s first national investment forum held in March, and marks a major shift toward drawing in private and international financing instead of relying only on traditional aid.
The National Food Authority (NFA) is struggling to meet the government’s 15-day rice buffer stock requirement as stagnant funding, limited storage and inadequate logistics constrain its ability to buy more palay from Filipino farmers.
The Asian Development Bank (ADB) is ready to provide the Philippines with up to USD500 million in emergency financing to help address disasters, including the potential impact of a severe El Niño episode, although the government has yet to request additional assistance.
President Ferdinand Marcos Jr. has ordered early rice imports and livelihood assistance for farmers as the Philippines prepares for a “super El Niño” that could disrupt agricultural production, water supplies and electricity generation through March 2027.