October 6, 2022
Philippines' agriculture group blames traders for the spike in meat prices
Philippines' agriculture group Samahang Industriya ng Agrikultura (Sinag) has blamed traders and middlemen for the increase in retail meat prices in the country, The Manila Times reported.
Rosendo So, president of Sinag, said the farmgate price of pork is still stable at PHP 175 (~US$2.98; PHP 10 = US$0.17) per kg, compared to the going retail market rate of PHP 300 (~US$5.10) per kg. He said it should cost retailers a maximum of PHP 280 (~US$4.76) per kg, but local markets are selling pork at PHP 300 (~US$5.10) per kg.
He said a price increase is expected in December due to higher demand, so it is unusual for prices to spike now.
So said the chicken farmgate price is pegged at PHP 105 (~US$1.79) per kg.
He said according to the group's monitoring, the current price of chicken is between PHP 180 (~US$3.06) and PHP 185 (~US$3.15) per kg, which is higher than the recommended retail price of PHP 160 (~US$2.72) per kg, adding that the prices are being manipulated.
The Department of Agriculture (DA), he continued, should address the situation in light of warnings that the retail price of pork could rise as high as PHP 400 (~US$6.80) per kg.
So also said that the government does not need to import any more pork this year because there are already at least 89 million kg of imported pork products in various cold storage facilities.
He said the Philippines has at least 42 million kg of imported frozen chicken in stock.
- The Manila Times