As another typhoon threatens to hit the country, Malacañang on Saturday reassured the public of enough food supply while vowing to go after price manipulators and hoarders.

Deputy presidential spokesman Anthony Golez said the Department of Agriculture (DA) and Department of Trade and Industry (DTI) had assured President Arroyo that there will be no food shortage amid the onslaught by two storms that caused P6 billion worth of damage in the agriculture sector.

“Secretary (Arthur) Yap has reassured us that there is enough stock for the whole year but the impact of the supply could be felt by the first half of next year, so in 2009 we will not be having a problem because that is already provided for by our buffet stock,” he told in a press briefing.

Golez said Trade Secretary Peter Favila also assured Mrs. Arroyo and the public that there is no shortage in the supply of goods, but he admitted that the setback lies in the distribution.

“He has already requested from the private sector if they they can lend delivery vans to ensure continuous supply in all supermarkets and stores,” Golez said.

He maintained that the government has imposed zero tolerance policy against price manipulators and hoarders, saying that they risk of being charged of P2 million and face imprisonment up to 15 years.

“Those profiteers must be identified so maximum penalty can be imposed on them,” he said.

The agriculture department has both good news and bad news on the food security situation in the country after it had been battered by two powerful typhoons.

Meanwhile, Yap said food security conditions will remain stable for the whole country until December this year, but the Philippines may experience major food security problems in the first and second quarters of 2010.

In a budget hearing at the House of Representatives, Yap said the government has already put in place measures to ensure that there is enough supply of food products until the end of 2009.

However, Yap said the country is likely to experience the effects of tropical storms “Ondoy” and “Pepeng” on food security after the holiday season.