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Philippines' Department of Agriculture (DA) has recorded a drop in the retail prices of pork meat across the country
As per the latest report of the DA-Bantay Presyo Price Monitoring Unit, the prevailing price of ‘kasim’ pork has reduced by 28% while ‘liempo’ meat prices dropped by 15%. The DA projects a continuing downward movement of local pork prices at NCR wet markets and said that the retail prices generally follow the price movements of farmgate prices of hogs.
Available data from hog producers indicate that farmgate prices have gradually declined since January 2021. The DA projects that if the trend continues, retail prices may return back to the price level of September last year. The DA said that it will continue to assist pork producers to maintain this momentum and push the industry to sustain its repopulation and recovery and shall continue to collaborate with the private sector and the local government units in the implementation of “One DA Family” twin program, of hog repopulation or INSPIRE and “Bantay ASF sa Barangay” or BABay ASF” to revitalize the country’s swine industry.
The DA through its ‘Agricultural Credit Policy Council’ (ACPC), has allotted an additional US$5.9mn for lending to the backyard and semi-commercial raisers in “green zones” or areas free from the African swine fever (ASF). The additional amount is aimed at helping and supporting continued efforts to revive the country’s hog industry.
Several major agribusiness firms have also partnered with the government to revive the swine industry, such as Univet Nutrition and Animal Healthcare Company (UNAHCO) and Charoen Pokphand Foods Philippines, Corp. (CP Foods).