BIZ BUZZ: Tiu Laurel’s promise
Amid soaring global oil prices because of the escalating tensions in the Middle East, the Department of Agriculture (DA) has vowed to double its efforts for the agriculture sector.
“The Department of Agriculture will further improve the work that needs to be done for our farmers, fishers and livestock and poultry raisers,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a video message posted on the DA’s Facebook page.
“Expect that we will work twice as hard—we will go to you, talk to you and go around continuously to serve you well,” Tiu Laurel said in Filipino.
What a timely message from the DA, which celebrated its 127th founding anniversary on Monday, as the Israel-Iran conflict threatens to raise the cost of producing agricultural commodities.
Fuel cost is a key component of agricultural production, particularly in the transportation of fertilizers and other farm inputs.
As explained by the DA, crude oil is not used in manufacturing fertilizers, but natural gas, a key byproduct of oil refining, is essential for producing ammonia, a main ingredient in nitrogen-based fertilizers.
Aside from higher fuel prices, the agency already has a lot on its plate—primarily on finding the balance between the profitability of local producers and keeping retail prices in check.
The question is: are the DA’s efforts enough to help the sector weather this difficult challenge for the sector?
