00:00Department of Agriculture spokesman Arnel De Mesa says the weakening peso will push up prices
00:05of imports such as rice, fertilizer, and other farm goods. He adds the impact on imported rice
00:10prices may be felt possibly by November. The Philippines breached a record low of 64 pesos
00:16and 17 centavos to the dollar on October 27. Among the key farm inputs that will take a hit
00:22is the country's fertilizer needs, which are mostly imported. Meantime, Ebon Foundation
00:27Executive Director Sonny Afrika criticizes the lack of government support to agriculture and local
00:32industries. Afrika points out the dip in the DA's proposed 2027 budget, which he described as
00:38chronic neglect. The DA sought a leaner budget in 2027, down by 8% compared to the previous year's
00:45allocation. Afrika says, the peso is weak because the economy is weak. We need more and more dollars
00:51to import what we don't produce, but produce less and less to export and earn dollars from.
00:57ThatPSHA won't have much time.
00:58Aloysius
