Manila: There is a stable supply of fertilizer for the agriculture sector in the country despite the conflict between Israel and Iran, the Department of Agriculture (DA) said on Wednesday. The DA made the statement amid concerns on the potential impact of the tensions on shipping in the Gulf region, where Qatar, one of the major suppliers of fertilizers, is located.

According to Philippines News Agency, DA Secretary Francisco Tiu Laurel Jr. stated that the country has a sufficient supply of fertilizer, which may prevent spikes in local prices. He explained that the current stock of fertilizer is expected to last until the end of the year, due to the annual bidding and utilization processes. Tiu Laurel expressed hope that the situation would return to normal if the conflict subsides before the year ends.

Tiu Laurel also assured that the Philippines has alternative sources of fertilizers, such as Russia and Brunei Darussalam. He emphasized that there is no expected exponential spike in prices of agricultural commodities despite potential increases in petroleum prices. The minimal price movements in petroleum are not anticipated to lead to unreasonable market speculation.