Philippines' Marcos relinquishes agriculture post as prices soar

Nikkei Asia

Philippine President Ferdinand Marcos Jr. on Friday gave up his post as agriculture chief, handing the position to a fishing tycoon who is now charged with containing soaring food prices.

The appointment of Francisco Tiu Laurel Jr., who runs the Frabelle Group of Companies, which has food processing and fishing operations, comes at a crucial point for the agriculture industry as it looks to shake off a post-pandemic rut.

The Rappler news outlet reported last year that Laurel Jr. was a top campaign donor to Marcos Jr. during the latter's run for the presidency.

Friday's announcement comes a year and a half since the son of late Philippine dictator Ferdinand Marcos appointed himself as agriculture chief, alongside his elected role as president.

Read more here.


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