February 1, 2022

The Philippines proposes an income tax holiday for swine farmers

The Philippines' Department of Agriculture has proposed an income tax holidat for swine farmers to boost swine repopulation in the country, Philstar Global reported.

William Dar, Philippines' Agriculture Secretary said swine repopulation is important to address hog shortages caused by African swine fever (ASF).

The country's Bureau of Animal Industry (BAI) data showed only 46 barangays have active ASF cases as of January 20, 2022.

The Department of Agriculture cited ASF as one of the key elements that badly affected the country's agriculture industry in 2021 as the Philippines' value of agricultural production fell 1.7%, based on Philippine Statistics Authority (PSA) data.

The data also showed swine production dropped 21% from 2.1 million metric tonnes produced in 2020 to 1.7 million metric tonnes in 2021.

The pork deficit meant pork prices steadily rose, with PSA data showed meat inflation up 16.8% last year from only 4.4% in 2020.

Frozen pork shoulders are priced at PHP 200 to 260 (~US$3.92 to 5.10; PHP 10 = US$0.20) per kg, while frozen pork belly prices averaged at PHP 280 (~US$5.49) per kg. As for fresh pork, pork shoulders are priced at an average of PHP 340 (~US$6.66). per kg and 380 (~US$7.45). per kg for pork belly between the first two weeks of January 2022.

-      Philstar Global