Philippine Chamber of Commerce and Industry (PCCI) President George T. Barcelon said he is “cautiously optimistic” on the economic outlook of the country for this year, noting that high food prices could “stunt” business.
Philippine Chamber of Commerce and Industry President George T. Barcelon said he is “cautiously optimistic” on the economic outlook of the country for this year, noting that high food prices could “stunt” business.
He said this is a “vicious cycle” that could stunt business and “negatively impact” the competitiveness of the export sector. As such, Barcelon said, “the outlook on both job creation and sustainability for the year may encounter headwinds.” He said allowing importation would reduce prices and make the commodity more affordable. It would also be favorable to traders who have no cold storage facilities.
In an administrative circular it issued on December 29, 2022, the DA set the SRP of red onions at P250 per kg . The circular was in effect until the first week of January, subject to another stakeholders’ consultation.
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