The Philippines: Pork price levels set by month’s end

Agriculture Secretary Francisco Tiu Laurel Jr. said on Monday the study on the possible implementation of a maximum suggested retail price (MSRP) for pork is expected to be concluded by the end of the month.

“Two weeks from now, probably, or by the end of February should be enough time,” Tiu Laurel said at a press briefing in Malacañang. “We’re currently studying that and digging deep into the value chain of pork so that we could determine whether or not there is profiteering.”

“If we have identified there is profiteering, then definitely we will be doing an MSRP also for pork,” he added.

Tiu Laurel said President Ferdinand Marcos Jr. has directed the DA to also review the prices of other agricultural products, among them eggs which he said the president “took particular interest in.”

The DA launched a study on implementing MSRP levels for pork since prices have been consistently high — around P480 per kilogram for belly or liempo and P420 for leg or pigue.

The DA previously attributed the increase in pork prices to the impact of African swine fever (ASF) and the huge demand for the commodity during the last holiday season.

“Anything above 400, I think, is unreasonable. Three eighty, maybe, but I’m not yet sure; we really are doing a deep dive into that for us to see if the pricing is correct. Profit should be reasonable for every stage; that’s why we are studying it carefully,” Tiu Laurel said.

Despite the high prices, he assured there was a sufficient supply of pork in the market.

In the same briefing, Tiu Laurel said four companies have been charged for alleged involvement in the smuggling of agricultural products.

The four are among the 10 firms the DA has blacklisted for smuggling.

Last December, the Bureau of Plant Industry (BPI) blacklisted 10 importers for allegedly bringing in vegetables, fruits, and other food products without the proper clearances. They are Kysse Lishh Consumer Goods Trading, LVM Grains Enterprises, JRA and Pearl Enterprises Inc., Betron Consumer Goods Trading, RCNN Non-Specialized Wholesale Trading, Golden Rays Consumer Goods Trading, Chastity Consumer Goods Trading.

President Ferdinand Marcos Jr. has signed Republic Act 12022, or the Anti-Agricultural Economic Sabotage (AGES) Act, a measure that classifies smuggling, hoarding, and cartel operations involving agricultural products as economic sabotage.

The law imposes a penalty of life imprisonment and a fine of up to five times the value of the products involved in the crime.

It also grants rewards of up to P20 million and other incentives to people who will provide information that would lead to the investigation, arrest, prosecution and conviction of smugglers and hoarders.

Agricultural products covered by AGES are rice, corn, beef and other ruminants, pork, poultry, garlic, onions, carrots, garlic, other vegetables, fruit, fish, salt and other aquatic products in their raw state.

Tags: pork, prices, frozen pork, liempo, maximum suggested retail price, pigue, kasim