Close Menu
    Track all markets on TradingView
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Term And Conditions
    • Disclaimer
    • About us
    • Contact us
    Facebook X (Twitter) Instagram
    WSJ-Crypto
    • Home
    • Bitcoin
    • Ethereum
    • Blockchain
    • Crypto Mining
    • Economy and markets
    WSJ-Crypto
    Home » Pork Prices Set to Rise as DA Updates Maximum SRP Soon
    Economy and markets

    Pork Prices Set to Rise as DA Updates Maximum SRP Soon

    wsjcryptoBy wsjcrypto14 Maggio 2025Nessun commento5 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    “`html

    By Kyle Aristophere T. Atienza, Reporter

    THE Department of Agriculture (DA) announced on Wednesday that it will remove the maximum suggested retail price (MSRP) for pork, which saw a surge in demand during the election period, within 24 hours due to inadequate compliance among suppliers.

    “It’s termed one step back and two steps forward,” Agriculture Undersecretary for Livestock Constante J. Palabrica informed journalists on the margins of an industry gathering on Wednesday. The agency is exploring a more effective approach to address elevated pork prices, he remarked.

    “We are going to remove it, we’re going to analyze it and then develop an updated program,” he stated.

    The MSRP was established at P300 per kilo for whole pig, P350 per kilo for pork shoulder and hind leg, and P380 per kilo for pork belly.

    However, the agency has raised concerns regarding minimal adherence to the MSRP since the initial week of enforcement, currently below 30%.

    Mr. Palabrica linked high pork retail costs to elevated farmgate prices, which have reached as much as P290 per kilo.

    He remarked that the increased demand during the election period surpassed the limited domestic supply caused by the African Swine Fever (ASF). “It’s the principle of supply and demand.”

    “Thus, anticipate a potential adjustment of MSRP, temporarily pausing it while we are evaluating how to make it truly effective,” he added.

    For the time being, the agency will concentrate on purchasing hogs from pig farms at a lower rate — fixed at P230 per kilo — and distributing these to prominent slaughterhouses.

    He was referencing a direct-sourcing initiative trialed by the Food Terminal, Inc. (FTI) in collaboration with Thai company Charoen Pokphand Foods PLC (CP Foods). The FTI is providing a Caloocan slaughterhouse with 100 live hogs daily from CP Foods under a pilot initiative that commenced in April.

    “The initial request was for 100 pigs daily,” Mr. Palabrica explained. “And then by the following month, it will be 200. Ultimately, our goal is around 500 pigs [a month].”

    He added that the government is also investigating a similar approach employed by other agricultural companies, including Pilmico Foods Corp.

    “We are seeking other farms that can provide us with our own pricing,” he stated. “If we can secure a price of P230, we can then offer at a lower price in the market.”

    The Agriculture official indicated that approximately P5-7 billion is allocated for the direct-sourcing initiative, which does not incur costs for the FTI since it sells the hogs at the same price, while the delivery expenses to slaughterhouses are covered by the partner company.

    “If we acquire it at P230, you will also purchase at P230. For logistics, we have negotiated a discounted rate,” he added.

    Mr. Palabrica mentioned that the Philippine pork supply remains stable. “We have an adequate supply of pork. However, the limited amount pertains to local pork. Regarding imported pork, there is ample supply.”

    Pork imports totaled 53.598 million kilos in February, an increase from 38.994 million kilos in the same month last year.

    Forty-two Philippine communities reported ASF cases as of March 28, rising from 39 barangays as of March 14, according to data from the Bureau of Animal Industry. Over 6,200 villages have experienced ASF cases since the first outbreak in 2019.

    Mr. Palabrica stated that they expect the commercial deployment of a Vietnamese ASF vaccine by the end of the year.

    The Agriculture department previously mentioned that it is collaborating with the hog industry to increase their herds by at least two million hogs annually through 2028 to return to pre-ASF levels.

    REGIONALIZATION AGREEMENT
    Meanwhile, Mr. Palabrica stated that the Philippines is engaging in discussions with various countries as it enforces a regionalization agreement for the imports of live chickens and their products.

    Thailand, Taiwan, Paraguay, and Chile are seeking to be included in the agreement which aims to eliminate a nationwide ban on a trading partner affected by bird flu outbreaks, he noted.

    Under the agreement, the Philippines will impose restrictions on poultry imports only from specific regions impacted by avian influenza, allowing imports from zones or areas certified free from the animal disease.

    The US, Poland, Spain, Portugal, Brazil, and the Netherlands are among the nations accredited by the Philippine government, Mr. Palabrica stated.

    The DA earlier indicated that a nationwide ban restricts the availability of day-old chicks, breeding stocks, and poultry meat, resulting in elevated prices.

    The three-step process for inclusion in the agreement necessitates the submission of documents regarding veterinary oversight, disease monitoring, traceability, control measures, and zoning protocols by the exporting nation.

    The application will be assessed by a risk evaluation team.

    A regionalization agreement will then be drafted and finalized after an affirmative evaluation, detailing the import terms and conditions, alongside revised veterinary certificates.

    The agreement also requires ongoing disease reporting and biennial assessments and stipulates grounds for termination in cases of unreported outbreaks.

    Philippine chicken imports reached 31.7 million kilos in February, a decrease from 32.426 million kilos in the same month the previous year.



    Source link
    “`

    return a list of comma separated tags from this title: DA to lift max SRP for pork in 24 hours
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    wsjcrypto

    Related Posts

    “NYT’s Take on Sacks’ Conflicts: Just a Bunch of Hot Air”

    1 Dicembre 2025

    Hotel101 Unveils 429-Room Condotel in Milan – Its Second Spot in Europe!

    30 Novembre 2025

    SEC Commissioner Hester Peirce Stunned by Ongoing Debate Over Self-Custody

    30 Novembre 2025

    Ex-DPWH Engineer Henry Alcantara Donates P110 Million to the Nation’s Fund!

    30 Novembre 2025
    Add A Comment

    Comments are closed.

    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Top Coins
    # Name Price Changes 24h Market CAPVolumeSupply
    WSJ-Crypto
    Facebook X (Twitter) Instagram Pinterest
    • Privacy Policy
    • Term And Conditions
    • Disclaimer
    • About us
    • Contact us
    ©Copyright 2025 . Designed by WSJ-Crypto

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version