August 5, 2024

Philippines' egg prices set to rise as Typhoon Carina and monsoon rains wreak havoc on agriculture

The Department of Agriculture (DA) has announced that egg prices are expected to rise following the widespread devastation caused by Typhoon Carina and recent monsoon rains, The Philippine Star reported.

As of July 27, 2024, the agricultural sector has suffered damages amounting to PHP 612 million (US$10 million), according to DA Assistant Secretary and spokesman Arnel de Mesa.

The breakdown of the damage includes PHP 58 million (US$1 million) in corn production, PHP 46 million (US$795,000) in high-value crops, and PHP 411,000 (US$7,100) in livestock and poultry.

Egg producers have indicated that retail egg prices are likely to see a gradual increase. Francis Uyehara, president of the Philippine Egg Board Association, mentioned that while there was no significant damage to farm facilities, flooding in Quezon City and Manila caused damage to eggs stored in warehouses.

Central Luzon was the hardest-hit region, with agricultural damages reaching PHP 350 million (US$6 million). Pampanga experienced the most significant loss, at PHP 228 million (US$3.9 million), followed by Tarlac at PHP 100 million (US$1.7 million). Region 6, Mimaropa, Region 12, Caraga, Zamboanga, Eastern Visayas, and the Bicol region were also impacted.

Despite the extensive damage, De Mesa expressed optimism that overall palay production would remain unaffected, as the crops were still in the vegetative stage. He reported a volume loss of 8,000 metric tonnes, impacting about 26,000 hectares, which is still within the acceptable range of losses given the expected year-on-year yield of 500,000 to 600,000 metric tonnes.

-      The Philippine Star