Bulatlat Market Watch

The Philippine government will implement today an executive order mandating a 60-day price cap on pork and chicken products in Metro Manila amid rising food prices.

Under EO No. 124, the price ceiling for a kilogram of pork liempo is at P300, a kilogram of pork kasim at P270, and a kilogram of dressed chicken at P160.

The EO was signed, upon the recommendation of the Department of Agriculture (DA), to address the climbing prices of basic commodities including pork, which was primarily caused by reduced local pork output during the African Swine Fever outbreak.

“It is imperative and urgent to ensure that basic necessities are adequate, affordable, and accessible to all,” the EO read.

In a statement, farmers group Kilusang Magbubukid ng Pilipinas said the government needs to implement “strategic and long-term solutions to boost our local production, and ensure sufficient food supply at affordable prices.”

“Government support prices and financial aid for consumers and heavy subsidies for producers are what will pull down pork and chicken prices across the value chain. This would ease the burden for producers, retailers, and consumers. DA can utilize part of its current agriculture stimulus budget to provide necessary government support price,” KMP’s Danilo Ramos said. (https://www.bulatlat.com)

Bulatlat Market Watch by Dawn Cecilia Peña

Share This Post