August 5, 2010

Philippine pork shortage may jack up prices

A pork shortage is likely to push up prices in December this year if the new Philippine government administration does not address the continuing shortfall in hog production.

Federation of Pork Producers of the Philippines Inc president Albert Lim said there is still a shortfall in hog output and the only reason this is not reflected in market prices is because demand for pork has been weak.

Lim said if pork production had been adequate, pork prices would have been lower than the current prices that hover between PHP150-175/kg (US$3.28-3.84/kg) in wet markets.

However, farm price has gone down to PHP108/kg (US$2.36/kg) in Luzon and even lower in the Vis-Min region, according to reports.

Lim urged the government to distribute piglets to backyard farmers to help ensure enough supply in the latter part of the year, when pork demand shoots up because of the Christmas holidays.