The Department of Agriculture (DA) is rolling out a P5,000 subsidy to 9,570 farmers relying on mechanized equipment to cushion surging fuel prices. The P50-million sub-allotment was released after global oil prices surpassed $80 per barrel amid Middle East tensions.
The Department of Agriculture (DA) announced in a statement on Monday that it secured a P50-million sub-allotment for the subsidy, released after global oil prices exceeded $80 per barrel. The aid aims to provide timely relief to farmers facing higher production and transport costs due to escalating Middle East tensions, including the US-Israel war with Iran, which has driven fuel prices up by about P50 per liter, pushing diesel beyond P100. An industry source noted a potential diesel price hike of P16.50 to P17.50 per liter next week after five trading days on the Mean of Platts Singapore. Eligibility is restricted to farmers listed in the Registry System for Basic Sectors in Agriculture. “We will continue to look for resources to extend greater assistance to our farmers and fisherfolk – our food producers who are among those most affected by this geopolitical conflict that we are not part of,” said Agriculture Secretary Francisco Tiu Laurel Jr. The DA acknowledged the P50 million covers only a small fraction of the sector's exposure to fuel price volatility, particularly for mechanized farmers where diesel forms a significant operating cost during planting and harvest. Separately, the Bureau of Fisheries and Aquatic Resources (BFAR) is disbursing fuel subsidies to over 10,000 fisherfolk beneficiaries at P3,000 each. BFAR awaits a supplemental agreement with the Development Bank of the Philippines to unlock another P50 million for around 15,000 municipal fisherfolk. Assistance is delivered via cash cards for those near fuel stations and cash vouchers in remote areas. “We are moving promptly to ensure assistance reaches them without delay because keeping our fishing boats running means keeping food on Filipino tables and sustained livelihoods for our fishers,” Tiu Laurel added. — Josiah Antonio
