December 6, 2022

Philippines may implement suggested retail price for meat

The Philippines government may implement a suggested retail price (SRP) for meat products due to surging pork retail prices at wet markets, The Manila Times reported.

Kristine Evangelista, the Philippines' Agriculture Assistant Secretary, said based on discussions with swine farmers, farmgate pork prices were pegged at less than PHP 200 (~US$3.57, PHP 10 = US$0.18) per kg, but retail prices in wet markets range between PHP 300 (~US$5.36) to PHP 370 (~US$6.61)  per kg.

She said the ideal retail price for pork should be PHP 280 (~US$5) per kg, adding that farmgate price is important as it is the foundation for ideal retail prices in the market.

Evangelista said representatives from the Philippines' Department of Agriculture will consult with swine farmers, traders, and retailers to determine how to lower pork prices, particularly around the holidays.

She said they will follow the same strategy as the country's Department of Trade and Industry's SRP on basic commodities as it is successful.

She mentioned that pork could be purchased from a cooperative from Batangas for PHP 250 (~US$4.47) per kg.

Rosendo So, president of the farmers' group Samahang Industriya ng Agrikultura, said the live weight price of pork is pegged between PHP 170 (~US$3.04) and PHP 180 (~US$3.22).

-      The Manila Times