Bantay Palengke, an organization of Filipino consumers, today warned that the price of cooking oil will increase once the government’s plan to change palm oil importation policies pushes through.
According to Bantay Palengke Convenor Lester Codog, “We have heard that the Department of Agriculture has been pondering on changing policies on palm oil importation. As imported vegetable oil has a large market share, we think this will significantly hurt the pockets of simple consumers. We should take note that cooking oil is considered as a basic good. As such, we ask the DA to rethink this approach.”
Bantay Palengke also asserted that as Filipino culinary culture is heavy on frying and sauteing, cooking oil, most of them vegetable oils, is one of the most common household commodities.
“If we visit a public market now, we are pretty sure vegetable oil is one of the most sought-after products just like rice and eggs. We even dare say that all Filipino kitchens contain a type of cooking oil. It would be unwise for the government to take steps that will make cooking oils expensive, especially since we are still recovering from the effects of the COVID pandemic and the economic lockdowns that accompanied it,” Codog added.
The consumer-leader appealed to the Marcos administration not to take hasty measures that will harshly affect simple Filipinos.
“We hope our government will hear the voice of consumers. We have seen how the recent spike on the price of onion then eggs affected our people. We deserve a break from the rising costs of living,” Codog said.