September 19, 2024

Philippine hog, poultry farmers call for more attention to solutions that reduce prices of key agricultural inputs

Hog and poultry farmers in the Philippines are urging the country's Department of Agriculture (DA) to prioritise solutions that will lower the prices of vital agricultural inputs.

A comparison of the DA's Bantay Presyo data from May 1 to September 5 showed a significant increase in the prices of essential agricultural inputs, such as palm oil and corn, which are key components in feed production.

During this period, the cost of 350ml of palm oil rose by 8.06%, climbing from ₱27-35 (US$0.48-0.63) to ₱27-40 (US$0.48-0.71). Likewise, a 350ml of coconut oil saw a 4.48% increase, with prices rising from ₱27-40 (US$0.48-0.71) to ₱30-40 (US$0.54-0.71). The price of corn experienced the most dramatic surge, jumping by 23% from ₱50-80 (US$0.89-1.43) to ₱60-100 (US$1.07-1.79).

Livestock and poultry producers, who depend heavily on vegetable oils for feed, are now grappling with skyrocketing operational expenses. These increased costs are being passed on to consumers through higher prices for pork, chicken, and other essential food items.

Earlier this year, the Pork Producers Federation of the Philippines Inc. expressed concern, citing that farm-gate prices have surged as a direct result of rising farm input costs.

- Philstar