April 19, 2021
Industry group says pork prices in the Philippines will remain high
The United Broilers and Raisers Association (UBRA) said Philippines President Rodrigo Duterte's executive order to impose tariff cuts on imported pork will not reduce domestic pork prices in the country, The Manila Times reported.
The UBRA pork imports for prime cuts were up 254% to 38.024 million kilos in Q1 2021 from 10.719 million kilos in the same period in 2020 in stating that the president's executive order will not bring pork prices down and arrest inflation.
The group also cited Bureau of Animal Industry (BAI) data which showed pork imports increased by 150.7% to 110.419 million kilos compared to 44.031 million kilos within the same period, noting that the period accounted for began before lockdowns in the country.
Jose Elias Inciong, UBRA President, said the increased pork imports happened without tariff cuts as COVID-19 was not an issue in early 2020.
The UBRA said the suggested retail price for imported pork is not cheaper than current prices. The suggested retail price of PHP 270 (~US$5.57; PHP 10 = US$0.21) per kg of pork shoulder and PHO 350 (~US$7.22) per kg for pork belly is provided by the country's Department of Agriculture.
Incion said there is no need to reduce tariffs as the rising pork imports will not affect pork prices, adding that the government should keep the 30% in-quota 40% out-quota tariffs.
On the other hand, the Foundation for Economic Freedom (FEF) supported the government's plans to increase the minimum access volume (MAV) for imported pork quota allocation and tariff reduction.
The FEF said it will help fill the country's pork supply deficit and lower pork prices in the short term.
- The Manila Times