The Department of Agriculture (DA) announced on Monday that it will need an additional two weeks to complete its investigation into the escalating prices of pork in local markets. This announcement was made during a press briefing at the Palace by DA Secretary Francisco Tiu Laurel Jr., who emphasized the need to understand the factors driving the price surge before deciding on implementing a maximum suggested retail price (MSRP) for pork.
Secretary Tiu Laurel pointed out that while farmgate prices for pork hover between PHP240 and PHP250 per kilogram, retail prices in markets can reach as high as PHP380 to PHP420 per kilogram. He questioned the significant price gap, suggesting possible profiteering within the pork value chain. Tiu Laurel stated that any price above PHP400 per kilogram is considered unreasonable and stressed the importance of a thorough investigation into the entire pork supply chain.
The DA is currently examining the entire value chain to identify where the price discrepancies occur. Tiu Laurel expressed his commitment to fairness, indicating his intention to consult with all stakeholders, including retailers, to ensure a balanced approach to any potential MSRP implementation. He refrained from suggesting a specific MSRP range, highlighting the need to establish a reasonable profit margin across the industry.
According to the DA’s Bantay Presyo report as of February 6, pork kasim (ham) in Metro Manila is priced between PHP345 and PHP420 per kilogram, while pork liempo (belly) ranges from PHP380 to PHP480 per kilogram. The DA’s ongoing study aims to address these price variations and ensure fair pricing for consumers.