Often touted as the backbone of the Philippine economy, the importance of the agriculture sector to the country can never be overstated especially against the backdrop of the COVID-19 pandemic and by the ongoing global food crisis. Today, the sector faces pressure from the highly inflationary market as prices for inputs like fertiliser, feed, and fuel remain elevated, leading to increased food prices affecting not only the Philippines, but globally as well. Along with this, the country also faces shortages on several basic commodities including sugar and salt.

Data from the Food and Agriculture Organization's Food Price Index (FPI) show that food price indices, averaging at 129.8 for February 2023, continue to be higher than the average level reported from recent years, despite a slight improvement with the levels lowering to the same levels reported prior to the war in Ukraine. Similarly, for the Philippines, food inflation rate posted a slight decline in February 2023, from 11.2% in January to 11.1%, but is still significantly higher than the 1.1% rate in February 2022.

In light of this, the European Chamber of Commerce of the Philippines (ECCP) invites its members and partners to a luncheon meeting with our keynote speaker, Department of Agriculture Senior Undersecretary Domingo Panganiban as he unveils the priorities of the Department to strengthen the agri-food supply chain and boost agricultural productivity in pursuit of a sustainable and high-growth Philippine agriculture sector.

Important reminders:

• Food and drinks are available for attendees joining physically.
• In compliance with health and safety protocols, slots for physical attendance will be limited to fully vaccinated onsite participants only. Attendees will be required to present proof of vaccination (such as a Vax Certificate or Vaccination Card), and an accomplished health declaration form in order to enter the venue.