Philippine pork prices remain stable despite low supply and demand

The price of pork, which ranges from PHP170-180/kilogrammes (US$3.75-3.97/kg), has remained stable despite El Niño and Holy Week fasting.

Albert Lim, president of the National Federation of Hog Farmers, said the price of pork is expected to stay in that range as he downplayed the warning issued by the Department of Agriculture (DA) of a pork shortage, particularly in Luzon.

"Many backyard piggeries were wiped out in Luzon during storm 'Ondoy' and typhoon 'Pepeng,' but Mindanao has been providing for the Luzon market," according to Lim.

Pork prices are unlikely to fall on Maundy Thursday and Good Friday during which most Filipinos fast, as retailers are expected to reduce inventory amid decreased demand.

The demand, however, is expected to increase again by Black Saturday and Easter Sunday.

Lim added that not even the effects of El Niño on the production of corn, which is used as swine feed, could affect pork prices.

The Philippines is importing corns at PHP13/kg (US$0.29/kg) from Thailand this year, which are cheaper than locally produced corn costing PHP14.50/kg (US$0.32/kg), due to the zero tariff on corn imports.