June 6, 2008

Philippine pork prices to hike further in July

Pork prices in Manila are estimated to go as high as PHP220 a kilogramme in July due to reduced supply in Luzon, an official of the National Federation Hog Farmers (NFHF) said.

Currently, Philippine pork sells for around PHP170 a kilogramme in public markets.

Yet with an estimated drop of 15 percent in pork supply, the price may hit PHP180-PHP220 a kilo in July, NFHF vice chairman, Renato Eleria, said.

Eleria explained that the main cause of the decrease in supply was pig diseases that hit backyard hog farms in Luzon last year.

The pig diseases affected 20 percent of the country's backyard hog farms.

Meanwhile, pork supply in Visayas and Mindanao are expected to be stable for the remainder of the year, Eleria said.

Eleria expects pork prices to remain high until next year, when supply would go back to normal.

US$1 = PHP44.18 as of June 6, 2008