Taguig: Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. on Monday announced that a mega cold storage facility is set to be constructed in Taguig, aimed at establishing ‘price floors’ for agricultural commodities across the country.
According to Philippines News Agency, Tiu Laurel emphasized that the facility will play a crucial role in shielding farmers from the adverse effects of market price drops. The mega cold storage is designed to accommodate commodities such as onions and tomatoes, which often experience fluctuations in supply and prices.
“In the future, once that is complete by early 2026, kung merong bagsak ng presyo ng mga kamatis by that time, pwede nang bumili, mag-intervene ang FTI (Food Terminal Incorporated) to buy na hindi ganun kababa,” Tiu Laurel stated during a media interview. He explained that the Food Terminal Incorporated (FTI) could intervene by purchasing at a level that prevents prices from plummeting excessively.
The facility is expected to function as a stabilizing force, allowing storage and later selling of commodities to maintain price stability and mitigate the impact on farmers. Tiu Laurel outlined that the bidding for the Taguig mega cold storage facility is scheduled to occur this year, with the completion target set for 2026.
The FTI is projected to have the capacity to store approximately 5,000 metric tons of agricultural commodities within the facility.