October 13, 2004

Hog Prices In Philippines Rise To PHP 73/kg
 

Following 25 weeks of downtrend, the average price of prime hogs has finally risen to the low-high average of PHP 69.36 - PHP 73.13 per kilogram (kg) this week. Rising demand in the run-up to the holidays has apparently boosted the price increase.

In order to meet stronger demand for hams and other processed-meat products in Christmas and the New Year, food processors normally buy hogs for processing at this period.

The rise in hog price is particularly felt in the Luzon provinces of Bulacan, Tarlac, Rizal and Cavite, and Naga City, as well as in General Santos City in Mindanao. Prices of hogs, however, remained unchanged in Laguna, Pangasinan, Bacolod, Cebu, Iloilo, Cagayan de Oro City, Sultan Kudarat and Zamboanga City.

Hog raisers will soon meet to discuss and determine whether the recent improvements in prices could constitute a firm recovery after suffering a 25-week consecutive decline.

Consumers might also have started buying more pork lately after noticing significant declines in pork prices in the wet markets.