Cost of Living

DA warns of US-Iran conflict impact on PH agricultural costs and food inflation

The Department of Agriculture is closely monitoring potential impacts of the US-Iran conflict on the Philippine agriculture sector, particularly concerned about rising oil prices affecting petroleum-based fertilizers, freight costs, and fuel for agricultural machinery and fishing vessels. The agency warns that sustained oil price increases could drive up farm input costs and shipping rates for imported commodities like wheat and animal feed, ultimately raising retail prices of bread, poultry, and pork, which complicates efforts to contain food inflation and threatens food security in an import-dependent agricultural system.