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Philippines: Vegetable supply glut causes drop in prices

Highland farmers in the Cordillera region, which supplies 80 percent of the country’s vegetable market, reported good harvest as a result of cool climate, but suffered a drop in prices because of limited demand, Gov. Nestor Fongwan said on Sunday.

He said the vegetable market contracted because of hoarding as a result of the storm warnings, closure of Manila ports that stopped shipment to Visayas and Mindanao and business slowdown among hotels and restaurants due to the typhoon.

“Delivery of an estimated 1.2 million kilograms a day to end markets were cut in half. We hope it will improve in the next several days before Christmas,” Fongwan said.

Wholesale prices of cabbage dropped from P25 per kilo to P15 per kilo; potatoes from P50 per kilo to P31 per kilo; and carrots from P30 per kilo to P22 per kilo. Last year, the demand peaked from 1.2 million kilograms a day to 1.9 million before December 23.

Click here to read the complete article at manilastandardtoday.com.