December 27, 2023

 

Philippines lawmaker calls for suggested retail price on pork as prices spike

 

 

A lawmaker and pork industry group official in the Philippines had pushed for the implementation of a suggested retail price (SRP) on pork products on December 24.

 

This development came amid high retail prices reaching up to ₱400 (US$7.22) per kilo.

 

In a radio interview, AGAP party-list Rep. Nicanor Briones, who also chairs the farmers' group Pork Producers Federation of the Philippines, noted that the farmgate price ranged between ₱165 (US$2.98) and ₱190 (US$3.43) per kilo, but the retail cost of pork in markets is overpriced by as much as ₱80 (US$1.44) per kilo.

 

"The farmgate price (of pork) slightly increased by ₱10 (US$0.18, per kilo) as it is sold between ₱180 (US$3.25) and P190 (per kilo), but this is also the day when the demand of pigs in the piggery is the highest amid the Christmas celebration," Briones said.

 

He explained that if the farmgate price of pork was at ₱190 per kilo, the maximum additional cost should only be between ₱310 (US$5.60) and ₱320 (US$5.78) for pork ham and ₱350 (US$6.32) for pork liempo.

 

"The National Economic and Development Authority (NEDA), the Department of Trade and Industry and Department of Agriculture (DA) should coordinate so that they can determine how much the farmgate price is. If they know the farmgate price, they can determine the right retail prices in the markets. They should implement the suggested retail price in the markets," Briones said.

 

He added that instead of acting on the high retail price of pork, NEDA and the DA had recommended to Philippines President Ferdinand Marcos Jr the importation of more pork.

 

"What they know is to suggest to the President to import more and more, that's the sad reality," Briones said. "(Concerned authorities) should inform the consumers on the right prices. In the past years, consumers were not informed about the right pricing."

 

He added that the government could not impose a price cap on pork as the traders would only manipulate the price and sell pork at higher prices to retailers.

- Philstar