Cabinet takes steps to stabilize food prices following typhoon

Taipei, July 30 (CNA) The Cabinet is taking several steps to keep prices of agricultural goods stable, including releasing inventories of vegetables, to counter potential price increases, after Typhoon Gaemi caused serious damage to farms around Taiwan last week.

At a price stabilization meeting led by Vice Premier Cheng Li-chiun (鄭麗君) on Monday, the Cabinet sought to balance supply and demand by strengthening the "allocation of vegetable inventories" and boost supplies that were hit hard by the typhoon, it said in a statement.

According to the Ministry of Agriculture, Taiwan has abundant refrigerated stocks of cabbages, onions, carrots, and potatoes, and farmers' associations continue to import vegetables from Vietnam, Indonesia, South Korea and other places before the flood season.

Cheng directed the ministry to help distribute the inventories in an optimal way, including by working with retail outlets in setting up special sections of their stores offering high-quality agricultural produce at discounted prices.

Next, to prevent gouging, hoarding, and monopolization, Cheng asked the Fair Trade Commission (FTC) to investigate and deal with concerted actions by industry operators and prevent them from jointly jacking up prices, according to the statement.

She also requested an inter-ministerial commodity price inspection team to initiate joint inspections when necessary.

The Cabinet also proposed that related authorities provide guidance for farmers to resume farming and production, promote the upgrading of agricultural infrastructure, and improve the resilience of the agricultural and grain supply system.