January 28, 2010

Dry weather likely to boost Philippine meat prices

The looming dry spell brought by the El Nino weather pattern could lead to higher pork and chicken prices in the Philippines.
 

The extended drought could stunt the growth of pigs and chickens, resulting in a slight cut in production, the Bureau of Animal Industry (BAI) said on Thursday.

The hog and poultry industry is projected to lose as much as PHP10 billion (US$214.1 million) because of the dry spell, said the Agriculture Department.

The bureau said backyard businesses would suffer the biggest blow since nearly three-quarters of the country's swine and poultry production come from small suppliers.

The BAI said the Philippines still has five million kg each of pork and chicken in its inventory.

Market vendors are worried that pork and chicken price increases could affect their profitability as a result of declining demand.