Marcos names himself agriculture chief to tackle food cost

PHILIPPINE President-elect Ferdinand Marcos Jr has appointed himself agriculture secretary, a rare move that gives him direct responsibility for food output as inflation pressures challenge his incoming administration. 

“It’s important that the president take that portfolio not only to make it clear to everyone what high priority we put to the agricultural sector, but also as a practical matter, so that things move quickly,” he said at a televised briefing Monday. 

The incoming leader, who expects higher food costs in the coming quarters, has pledged to increase farm output through loans and modern machinery.

Prices of foods including chicken and vegetables are rising due to supply issues and higher costs of fuel and transport. Food inflation quickened to 4.9 per cent in May, boosting overall consumer price rises to their fastest since November 2018. 

The last time an incoming leader assumed a concurrent role as minister was in 1998, when then-President Joseph Estrada became interior chief. Other presidents joined their own Cabinets temporarily during emergency situations.

Other details from the briefing:

• The Philippines must export processed metals instead of raw ore, Marcos said, adding that mining should be “environmentally neutral”;
• Marcos said he favours targeted subsidies to sectors affected by fuel price hikes, instead of suspending oil excise tax;
• The Department of Education, which will be headed by incoming vice-president Sara Duterte, should review the programme that added two years of basic schooling, Marcos said. BLOOMBERG