The Department of Agriculture (DA) announced on Tuesday that it is exploring the possibility of establishing a maximum suggested retail price (MSRP) for pork, alongside potential penalties for profiteering. This comes in response to the escalating pork prices observed in Metro Manila’s markets. DA spokesperson Assistant Secretary Arnel de Mesa emphasized that the study includes determining an appropriate MSRP for pork, following similar measures previously applied to rice. De Mesa warned that individuals found guilty of profiteering could face charges under the Anti-Agricultural Economic Sabotage Act, which covers smuggling, hoarding, and profiteering, particularly with imported goods. He highlighted that the industry standard suggests a reasonable markup from farmgate to retail should be just over PHP100. Current market prices for pork, however, are significantly higher, with pork liempo (belly) averaging PHP426 per kilogram and pork kasim (ham) at PHP375 per kilogram. Frozen pork products are slightly cheaper, but prices still exceed what is considered reasonable. Secretary Francisco Tiu Laurel mentioned that the DA requires two weeks to investigate the causes of these high prices, despite a stable supply, and to determine if profiteering is occurring in local markets.
Department of Agriculture Considers Price Caps and Penalties for Pork Profiteering
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