Revolutionary Mega Cold Storage in Taguig Set to Stabilize Agricultural Prices

In a groundbreaking move, the Department of Agriculture’s Secretary Francisco Tiu Laurel Jr. announced that a new mega cold storage facility in Taguig will play a pivotal role in establishing price floors for agricultural products across the Philippines. This initiative aims to shield farmers from the detrimental effects of plummeting market prices. The facility, expected to be completed by early 2026, will store key commodities like onions and tomatoes, which often experience significant fluctuations in supply and price. Secretary Tiu Laurel emphasized that the facility will enable the Food Terminal Incorporated (FTI) to intervene in the market by purchasing commodities at prices that are not excessively low during price drops. This strategic buying and subsequent storage will allow for the sale of these goods at a later date, helping to stabilize prices and minimize the impact on farmers. The bidding process for the construction of the Taguig mega cold storage is set to commence this year, with the facility designed to hold up to 5,000 metric tons of agricultural products.