Dubai is not an agricultural Emirate state, although the rising demand for premium organic foods in Dubai has recently increased the scope for agricultural business there for vegetable crops. Know more:
The Philippines is an agricultural country. As of December 30, 2022, consumers in Divisoria market, supposedly the place where one can buy cheaper goods, complained that the price for a kilo of onions has skyrocketed to P600.
The late President Ferdinand E. Marcos understood the dynamics of the Philippine market system, where middlemen and big traders can potentially control the country’s agricultural produce. That’s why he made it his priority to establish the Food Terminal Inc. in 1968 for the purpose of stabilizing prices of commodities through an efficient agricultural marketing system, particularly in Metro Manila.
In November 2012, the Philippine government announced the sale of 74 hectares of the 120-hectare FTI property to Ayala Land Inc. for P24.3 billion. The area became Arca South, an integrated mixed-use development that features residential blocks, office buildings, and commercial areas. The remaining 46 hectares are still owned by FTI. Proceeds from the sale of the 74-hectare property were pledged to the programs of the Department of Agriculture and the Department of Agrarian Reform.
Hindsight has the power of clarity. Although Piñol may have disappointed the Filipino consumers himself during his DA stint, he did establish the TienDA program, which sold agriculture products in Metro Manila and Baguio City at farm gate prices. This marketing strategy sought to lower food prices by eliminating layers of middlemen in the supply chain, consequently increasing farmers’ and fisherfolk’s income and providing them market opportunities.
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