April 7, 2025
      

Maximum suggested retail price on Philippines' agricultural commodities keeps inflation in check, according to agriculture department

The Philippines' Department of Agriculture (DA) on April 4 said the imposition of a maximum suggested retail price (MSRP) on agricultural commodities such as rice and pork helped in taming the overall inflation in the country.

Agriculture Secretary Francisco Tiu Laurel Jr. made the statement after the Philippine Statistics Authority reported that inflation slowed to 1.8% in March — the lowest level in five years — with food inflation easing to 2.3% from 2.6% in February as one of the main drivers.

He said the MSRP helped ensure a downward trend in food prices.

"While some sectors doubted the effectiveness of our MSRP implementation, the inflation numbers clearly show that we are on the right path in protecting the welfare of millions of Filipino consumers, while also ensuring that agricultural workers and others in the value chain receive a fair return for their hard work," Tiu Laurel said.

The MSRP for pork is set at ₱380 (US$6.79) per kilogramme for liempo (belly); ₱350 (US$6.25) per kg for kasim (ham) and pigue; and ₱300 (US$5.36) per kg for sabit-ulo.

According to the DA, compliance among retailers is at almost 40%, and 88% among pork producers. It vowed to impose more stringent measures in case low compliance to pork MSRP remains.

To date, the price of pork liempo (belly) ranges from ₱370 (US$6.61) per kg to ₱470 (US$8.39) per kg; while pork kasim (ham) ranges from ₱340 (US$6.07) per kg to ₱400 (US$7.14) per kg.

To further help tame inflation, Tiu Laurel also vowed to sustain efforts in boosting local production, close monitoring, and ensuring consumers' access to cheaper agricultural products.

- PNA