The Philippines is allocating funds to purchase chili peppers and mung beans directly from local farmers to stabilize market prices and reduce the country’s reliance on imports.
Department of Agriculture Secretary Francisco Tiu Laurel Jr. directed the Food Terminal Inc. (FTI) to lead the procurement, identifying the two crops as high-value priorities due to their significance in the Filipino diet. For chili peppers, the focus remains on tempering sharp price swings, while the strategy for mung beans aims for long-term domestic self-sufficiency to conserve foreign exchange.
Tiu Laurel said the country imports significant volumes of mung beans, primarily from Argentina, despite a local production of about 45,000 metric tons. He said the government goal is to be self-reliant by 2027.
FTI may initially purchase up to 80 percent of domestic output, which translates to roughly 3,000 metric tons a month. This move is designed to encourage farmers by providing a guaranteed buyer and protecting them from volatile market conditions.
Mung beans, a staple source of vegetable protein in the Philippines, are largely produced in Isabela, which accounts for about a third of the national output. The crop contains nearly twice the protein found in cereals like rice and corn.
