Pork inventory down, prices remain high

MANILA, Philippines — The country’s inventory of frozen pork slightly declined in mid-December, but was still more than double the previous year’s level due to imports, data from the National Meat Inspection Service (NMIS) showed.

Latest NMIS figures showed that the inventory of frozen pork in accredited cold storages reached 69,668 metric tons (MT) as of Dec. 20, slightly lower than the 72,068 MT in the week before.

The figure, however, is 112 percent higher than the 32.821.52 MT of frozen pork in the same period last year.

Imported frozen pork accounted for the bulk of the inventory at 67,804.7 MT.

In contrast, local frozen pork only had a share of 1,863.37 MT of the inventory.

Central Luzon had the largest share of frozen imported pork at 24,011.37 MT.

This was followed by the National Capital Region with 23,253 MT.

CALABARZON also had a sizable share of the imported pork, with a total of 19,057.74 MT. The region also accounted for the largest share of local pork in the frozen pork inventory at 974.26 MT.

Latest data from the Bureau of Animal Industry (BAI) showed that pork imports reached 520,932.06 MT from January to November this year, 125.4 percent higher than the 231,140.2 MT in the previous year.

As part of the government’s effort to bring down prices and stabilize the supply of pork in the country, President Duterte issued Executive Order 133, which increased the MAV for pork meat to 254,210 MT for 2021.

Duterte also signed EO 134, which provides that in-quota pork imports or those under the MAV are imposed a 10 percent tariff for three months and increased to 15 percent. This is lower than the original rate of 30 percent.

Out quota pork imports are slapped with a 20 percent tariff for the first three months, which will be raised to 25 percent. This is lower than the original tariff of 40 percent.

Pork ham or kasim is now selling for P320 per kilo in markets in Metro Manila. Pork belly or liempo is currently priced at P360 a kilo.