Retail prices of chicken and pork down by P5

CEBU, Philippines- Good news for consumers: prices of pork and chicken in local markets have marginally went down by at least P5 for days now amid the current sufficient stock, retailers said.

Meat retailers at the Carbon Public Market in Cebu City told The FREEMAN during a price monitoring yesterday morning that the drop in prices reflects the existing enough supply of pork and chicken.

Gerry Avila, agribusiness chief of the Department of Agriculture-7, confirmed yesterday the current supply of the said products is adequate and that there may only be “considerable movement in prices.” He said he may look into other factors that trigger the decrease.

Price decrease

One whole dressed chicken is selling at P125, down 3.8% from P130 weeks ago; while chicken cuts are sold at P140 per kilogram, down 3.4% from P145 to P150 before. Although there are some cuts of chicken like breast that are still sold at P145 per kilogram.

Retailer Nenita Libres, 51, however said that despite the low price, sales may not be that brisk this time, saying most consumers are paying school fees as the end of school year nears.

Vendors also expressed concern that sales may even dip later this month or early April as the Lenten Season now approaches, when the demand for meat goods during that time normally falls.

On the other hand, price of lean pork has decreased by 2.6% from P190 per kilogram to P185 now. However, cost of pork belly stands at P200 per kilogram.

Sabina Utlang, owner of Sixto & Bening Meat Store, explained wholesale prices of first class pork have slightly declined to P153 from P157 before.

“Sales of pork now are just normal,” 64-year-old Utlang said in Cebuano. “And we expect the demand to dip in the coming weeks because of the Lenten Season.”

Market retailers said prices of chicken and pork started to fall at the end week of February but added they could not tell whether the low price would long last. Price adjustments, they said, will depend on market trends.

Earlier, the National Economic and Development Authority reported the country’s price growth rose 2.5% in February, reflecting the rise in fuel prices and higher electricity costs. 

But the government said the overall outlook for inflation is expected to stay manageable due to easing food prices.

“…food inflation continued to decelerate in February 2015 from 5.6% to 4.9% reflecting softer upward adjustments in the price indices of rice, meat and vegetables,” the NEDA said. (FREEMAN)