Department of Agriculture Secretary Francisco Tiu Laurel, Jr. has created a special team assigned to craft the rules and regulations on the procurement and stockpiling of agriculture products in a bid to stabilize their supply and prices in the markets.

In creating a Technical Working Group (TWG), Laurel said its outputs will reinforce Section 9 of the Republic Act 7581, or the Price Act, which was enacted into law to protect consumers against undue price increase especially during emergency situations.

Section 9 of the RA7581, which discusses allocation of a buffer fund reads, “The implementing agency may procure, purchase, import, or stockpile any basic necessity or prime commodity, devise ways and means of distributing them for sale at reasonable prices in areas where there is shortage of supply or a need to effect changes in its prevailing price. For any or all of these purposes, a buffer fund shall be allocated in the annual appropriations of the implementing agencies.”

The Department of Agriculture was identified as the lead agency tasked to stabilize prices of agricultural crops, fish and other marine products, fresh meat, fresh poultry, dairy products, fertilizers and other farm inputs during emergencies.

Based on the Special Order 18 recently issued by Laurel, the DA chief emphasized the need to have a buffer fund for the procurement, purchase, importation or stockpiling of basic necessities or prime commodities, and determine ways to distribute these items during times of shortages or if there is a need to influence market prices.

In his order, Laurel tasked the TWG to develop a clear and concise set of rules to implement Section 9 of the Price Act, engage the Department of Trade and Industry and other government agencies in developing the Implementing Rules and Regulations.

The TWG was also instructed to consult with relevant stakeholders including consumer groups and market experts, and ensure the IRR hews to the legal framework under the Price Act.

DA Assistant Secretary for Policy Research and Development Noel A. Padre was designated as head of the 8-member TWG. Assistant Secretary for Regulations Atty. Paz Benavidez II was named co-chairperson while director Jerome Bunyi, Officer-in-charge for Policy Research Service, was appointed vice chairperson.

Personnel from the Policy Research Service, Office of the Assistant Secretary for Regulations (OASR) and the Agribusiness and Marketing Assistance Service (AMAS) will form part of the TWG’s Secretariat and provide technical and administrative support to the group.