Manila: President Ferdinand R. Marcos Jr. has mandated the allocation of approximately PHP10 billion to support farmers and fisherfolk impacted by the recent surge in fuel prices, as announced by Malaca±ang on Thursday. Executive Secretary Ralph Recto emphasized that this directive seeks to broaden the fuel subsidy program to encompass 'food producers' as beneficiaries.

According to Philippines News Agency, the initiative aims to assist farmers and fisherfolk in navigating the challenges posed by escalating global oil prices due to tensions in the Middle East. Recto noted the critical link between fuel inflation and food inflation, highlighting that reduced fishing activities due to limited fuel supply could lead to decreased fish catch and subsequent price increases.

The government acknowledges the substantial reliance of farmers and fishers on fuel. Agriculture Secretary Francisco Tiu Laurel Jr. has been tasked with providing prompt assistance. In today's mechanized agricultural landscape, farmers and fishermen depend on fuel-driven machinery and vessels, making fuel costs a significant factor in market prices.

Recto assured that the Department of Agriculture (DA) is well-prepared to implement this program, having established processes and resources in place. The DA had previously requested PHP10 billion in cash assistance to shield farmers and fishers from fuel cost surges.

Funding for this initiative will come from the Presidential Assistance for Farmers and Fisherfolk Program (PAFF) within the DA's 2026 budget, with disbursements expected in the latter half of 2026.