Search Helium

Home > Personal Finance > Spending & Saving > Budgets & Saving

How are people in your part of the world coping with the rising food prices?

by Rodolfo N. Lentejas, Jr.

Created on: October 04, 2008   Last Updated: October 14, 2008

Manila, October 4 (One World) - It is a continuing question how ordinary Filipino earners in this part of the world are coping with the rising food prices.




To address the possible negative impact of the rising prices of prime commodities in the Philippine market, the National Wages and Productivity Commission (NWPC), an agency mandated to evaluate and prescribe salary rates, has ordered the increase in the minimum wage rate to Php 382.00 (US$ 8.13) per day. The wage increase is a good news, but sadly the new wage hike is still not enough for a crowded family.




According to the National Statistics Office (NSO), there were 88.57 million Filipinos in 2007, and roughly today, as the food prices soared to the heavens, so too the number of Filipinos soared to about 91.1 million. Of the 91.1 million, 2.9 million Filipinos are unemployed, or about 2.6 percent of the entire population, are technically dependents, resulting to the disparity of food supply as they are all consuming, but not in any way earning.




It is clear from where I live that for the affluent few, the rising food prices in the market is not an issue. But for the many who are fighting for life, this is one big issue that threatens their very existence.




A study by the Asian Development Bank (ADB) reveals that (of the 91.1 million Filipinos today) 23 million Filipinos, or a massive 27 percent of the entire Philippine population, are living below the poverty line of US$ 1.35 (Php 63.42) per day. With this amount, no one is sure how they will ever survive.




Earlier this year, as the oil prices in the world market soared to the heavens (and the highest in the Philippine market in 17 years), the prices of primary goods dependent upon oil has also been pulled higher, prompting rice traders in the Philippines to take advantage to sell rice as high as Php 52.00 (US$ 1.10) per kilogram.




Philippine President Gloria Macapagal-Arroyo (PGMA), in her effort to ease the public from this burden, declared war against rice hoarders.




She said that anyone caught stealing rice from the people must be thrown into jail.




"I am leading the charge to crack down on any form of corruption by public or private persons who would divert supplies or pervert the price of this essential commodity in any way," Arroyo added.




Arroyo also promised to prosecute traders accused of hoarding.




Meanwhile, Agriculture Secretary Arthur Yap made a stunning announcement by declaring that there is no shortage in food in the Philippines, specifically rice.




"We don't

Helium Debate

Cast your vote!

Which is more valuable - time or money?

Click for your side.

135821

Featured Partner

Katrina's Angels

Katrina's Angels support communities affected by disasters by offering solutions to unmet needs and enhancing the recovery process through resource pooling and information sharing. Katrina's Angels will: Provide struc...more


CONNECT WITH US

Read
our blog
Helum for writers

Write and get published
Share with other writers
Polish your freelancing skills

Join our active writing community
Helium Content Source for Publishers

Quality articles from proven freelancers
Exclusive rights, fast turnaround
Brand engagement, business blogging -- our writers do it all

Get custom content today!

INFORMATION


Helium, Inc.
200 Brickstone Square Andover, MA 01810 USA
#