The Department of Agriculture (DA) said the peace agreement between the US and Iran will allow Philippine farm exports to regain access to Middle Eastern markets. Agriculture Secretary Francisco P. Tiu Laurel, Jr. stated that the reopening of the Strait of Hormuz, a critical shipping route, is expected to remove barriers that had disrupted trade, as reported by BusinessWorld.
Before the conflict, the Middle East was a significant market for Philippine agricultural products, including bananas, mangoes, and processed foods. The disruption in shipping lanes and geopolitical tensions had stalled exports, but the new peace deal is expected to restore normal trade flows. The DA is now working with exporters to ramp up shipments and meet demand in the region.
Tiu Laurel noted that the reopening of the Strait of Hormuz will also lower insurance and shipping costs, making Philippine products more competitive. The DA plans to hold trade missions and promotions to regain market share. The development is seen as a boost to the country's agricultural sector, which has been seeking to diversify export destinations beyond traditional partners.