Philippine chicken prices to decline soon
Chicken prices in the Philippines are expected to come down soon based on the latest figures on palay production and moves by the Department of Agriculture (DA), according to an official.
According to DA secretary Bernie Fondevilla, prices for prime commodities such as rice, chicken and fish will remain stable in the second quarter as these goods are expected to be in ample supply despite the drought affecting some crops and the fisheries sector.
The suggested retail price (SRP) for chicken has been lowered to PHP125 per kilo after a stakeholders' consultation last March 16. Chicken prices are expected to go down following requests from producers to lower poultry reference prices so that they reflect farmgate costs.
Despite the occurrence of El Niño, the DA expects surpluses of 5,135 tonnes of chicken, 24,674 tonnes of tilapia and 47,139 tonnes of milkfish in the second quarter.
With the surplus, the DA expects prices of basic goods to remain stable over the next quarter, with regular-milled rice now selling for PHP30 per kilo in Metro Manila and tilapia and milkfish at PHP80 per kilo and PHP110 per kilo.
