With the government saying that his visit is aimed at assuring consumers that prices remain stable and supply is adequate amid global uncertainties.
On Wednesday, March 18, President Ferdinand Marcos Jr. led a joint price and supply monitoring by the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) in San Juan City, which aims to assess the current condition of basic commodities amid the ongoing tensions in the Middle East that caused a surge in global oil prices.
Marcos was joined by DTI Secretary Cristina Roque and DA Secretary Francisco Tiu-Laurel, and engaged with vendors and market stakeholders to gain firsthand insights on price trends.
They also checked the “timbanagan ng bayan” (public weighing scale), Bantay Presyo bulletin board, and the market’s fish, meat, fruit, vegetable, and poultry sections to ensure fair pricing and adequate supply.
Following his inspection, the President said the prices of basic goods and commodities at the Agora Market remain stable, adding that no price gouging has been observed.
“Nandito tayo at iniikot namin ang mga iba’t ibang palengke para tiyakin na ang presyo naman ng pagkain natin ay hindi biglang tataas,” Marcos said. “Dito lang sa Pilipinas, normal lang muna ang ating mga presyohan at tinitiyak nga natin.”
He then assured the public that the supply of goods remains sufficient, emphasizing that there is no need for hoarding. “Ang supply natin, maganda naman ang supply natin ng pagkain, ng bigas, lahat ng mga basic goods. Kaya iyong ating mga kababayan, sinasabi natin, hindi naman kailangang mag-hoarding at hindi tayo nagkukulang sa food supply.”
The Chief Executive then commended vendors in San Juan for their cooperation, saying that the suggested price cap set by the DTI is being properly followed.
“Our vendors are cooperating. They are keeping the prices at normal from what we were, maybe a month ago. Pareho pa rin. So that’s what we need to maintain,” and noted that the government will continue its monitoring efforts to ensure price stability in the market.
For his part, Agriculture Secretary Francisco Tiu Laurel Jr. said, “While price adjustments are understandable at a time when fuel and transport costs are rising, profiteering and hoarding are not.” He also added that monitoring shows sufficient supply of rice and other food items.
The DA and DTI further emphasized that they are closely consolidating price data from markets and supply sources nationwide.
Should findings confirm unreasonable price increases or abuse in the pricing of basic necessities and prime commodities (BNPCs), both departments are prepared to impose appropriate price cap measures, including the implementation of price ceilings, in accordance with existing laws and regulations.
Trade and Industry Secretary Roque also recently had a discussion with 21 leading manufacturers, securing an agrememet for no price increase on basic necessities and prime commodities (BNPC) items on March 16, 2026.
The manufacturers pledged to maintain current price levels for the next 30 to 60 days.
“We commend the proactive commitment of our manufacturers to sustain price stability within a changing cost environment,” said Roque. “Through continuous dialogue and coordination led by our agency, this collective effort reflects a shared responsibility to keep basic goods within reach of Filipino families and to uphold fair pricing practices that support their daily needs.”
In addition to these efforts, the government has also secured key farm inputs and is extending assistance to farmers to cushion production costs and help prevent spikes in consumer food prices.
According to the Department of Agriculture (DA), it is already moving to lock in fertilizer supplies from key global producers as oil-driven price spikes threaten farm output later this year.
Tiu Laurel said that they have already opened talks with several countries, including China and Russia, to ensure steady deliveries of the critical farm input.
Furthermore, during his meeting with the Chinese ambassador on Tuesday, the diplomat assured the agricultural cooperation between the two countries. He also noted the DA has also engaged with India and will be talking to Belarus to secure supply moving forward.
The urgency reflects mounting pressure in global markets, given the recent price surges in oil following recent strikes involving the United States and Israel against Iran and the ensuing disruptions around the Strait of Hormuz—all leading to the rise in cost of petroleum-based fertilizers.
Tiu Laurel said global fertilizer prices have already risen in the past weeks, with the widely used Urea possibly hitting USD800 per metric ton, should the Middle East tension escalate further.
While the DA has secured more than 80 percent of requirements through September, he warned that delivery risks are rising amid surging prices. But, he also said that suppliers that fail to meet obligations could face permanent blacklisting.
Beyond supply, the DA is also exploring ways to reduce dependence on costly inputs, with China having offered to share farming techniques that cut fertilizer use without sacrificing yields.
At the same time, the DA is reviewing the supply outlook for other key commodities and preparing contingency measures, including boosting local production and fine-tuning import strategies.
“For now, domestic food supply remains adequate, although prices are expected to rise due to higher logistics and transport costs. To cushion the impact, the government has ramped up market monitoring and begun rolling out targeted financial assistance, including fuel subsidies for farmers and fisherfolk,” added the Department of Agriculture in its statement.
Furthermore, the government is also finalizing a legal review on a proposed price cap of PHP50 per kilo for imported rice which is seen to curb profiteering.
Lastly, Tiu Laurel emphasized that locally produced rice will be exempt to protect farmgate prices and avoid discouraging planting.
