December 16, 2004

Price Hike in Pork Expected in the Philippines

Pork prices are expected to rise over the next few days in the Philippines despite assurances made by the interagency National Price Coordinating Council (NPCC) that prices of chicken and pork would remain stable during the Christmas season.

According to National Federation of Hog Raisers president Albert Lim Jr., the price of pork is expected to go up a little over 7 percent to P150 per kilo over the next few days from P140 because of increased demand.

Lim pointed out that demand for pork is expected to go up by as much as 70 percent during the Christmas season.

"There has been an upward trend over the past few days," he said.

According to Lim, there is still sufficient supply, which is why retailers are able to dispose pork products at the current level of P140 per kilo.

Last year, prices of pork jumped to as high as P150 to P160 per kilo after consumers shifted to pork when prices of chicken surged to a record level of P140 per kilo due to lack of supply and increased demand.

Trade Undersecretary Adrian Cristobal Jr. assured that consumers would not experience a repeat of last year's scenario wherein prices of both chicken and pork increased because of the lack of supply and higher demand.

Cristobal said hog and poultry industries already gave their assurances that the supply of pork and chicken is enough to meet the expected hike in consumer demand as Christmas is nearing.

"The wet-market vendors association and the supermarket associations have also validated the statements of the industries. There is no reason for prices to go awry," Cristobal said.