KIKO EYES COLD STORAGE FACILITIES INVESTMENTS
AS KEY TO LOWERING FOOD PRICES

Amidst reports that there will be future increase in prices of basic goods, Senator Francis "Kiko" Pangilinan today says that the putting up of cold storage facilities around key agricultural areas around the country can keep food prices down.

"Putting up of cold storage in Benguet, Davao, and Bukidnon for their vegetables; the west coast area of Bicol Peninsula for the development of their line tuna industry ; north and south Cotabato for their fruits; and more strategic areas around the country will help insulate the Philippines from the trend of rising food prices around the globe," Pangilinan says.

Pangilinan, who is the Chairman of the Senate Committee on Agriculture and Food, urges the government to encourage the private sector to invest in cold storage facilities.

"There is a need for the country to beef up infrastructure within the agricultural supply chain. Cold Storage facilities will prolong the shelf life of our agricultural produce and products, and minimize wastage. We also need these storage facilities to buffer our supply from possible typhoons that might still hit us before the year ends."

"These facilities will increase the income of our farmers and fisherfolk who will get better prices for their produce as quality is maintained for a longer period. These facilities give them leverage and prevents them from being at the mercy of price manipulators and unscrupulous middlemen who take advantage of the perishability of the good s in the hands of the farmers."