May 24, 2024

Pork prices soar in Metro Manila, Philippines amid overpricing concerns

The retail price of pork has reached up to PHP 420 (US$7.23) per kg in Metro Manila, Philippines, according to the latest monitoring by the Philippines' Department of Agriculture (DA) in Metro Manila markets, The Philippine Star reported.

A senior DA official has pointed out that some traders are involved in overpricing, despite the stable farmgate price of pork.

During the opening ceremony of Livestock Philippines and Aquatic Philippines 2024, Agriculture Undersecretary for Livestock Deogracias Victor Savellano emphasised the need for inspections by the DA and the Department of Trade and Industry to identify traders responsible for overpricing.

Savellano said the country has enough supply and the retail price of pork should be low, but there are traders who take advantage in certain areas.

The DA's monitoring in Metro Manila markets showed that the retail price of pork belly ranged from PHP 340 (US$5.85) to PHP 420 (US$7.23) per kg yesterday, compared to the previous level of up to PHP 400 (US$6.88) per kg on May 20, 2024.

Despite an increase in areas affected by African swine fever, Savellano assured the public that there is an adequate supply of pork.

-      The Philippine Star