Chicken, pork price hikes blamed on opportunistic traders

MANILA, Philippines - Rising retail prices of chicken and pork in Metro Manila are caused by the pricing bandwagon employed by “opportunistic traders,” the Department of Agriculture (DA) said over the weekend, ruling out the need for importation of additional supply.

Agriculture undersecretary for livestock operations Jose Reaño said that based on the monitoring of the DA, both supply and farm gate prices of chicken and pork have been stable.

During the last three weeks, farm gate prices of chicken ranged from P92 to P97 per kilo at live weight. while farm gate prices of pork were P115 to P129 per kilo at live weight.

As of June 19, however, retail prices of chicken and pork have risen by almost 100 percent over farm gate prices, when the usual markup is a maximum of P30 per kilogram.

Retail prices of pork belly ranged from P180 to P220 per kilo in metro markets while lean meat was at P180 to P200 per kilo. Fully dressed chicken, on the other hand, retailed at P125 to as muchas P150 per kilo.

“Traders and retailers with opportunistic attitudes are taking advantage of the spiraling price of other commodities,” Reaño said in a statement.

“There’s almost a 100 percent jump in prices from the farm to the market. There seems to be large profit margin in marketing,” he added. Despite the rise in prices, the DA is ruling out the need for importation. “Despite the surge in the prices of chicken and pork in our country, ours is still the lowest in the Asean (region), so importation is not recommended,” Reaño said.

“We are also being strict on allowing importation to allow framers to earn money,” he added.

Rising prices of rice, garlic

Sen. Cynthia Villar, chairperson of the Senate Committee on Agriculture, also expressed concern yesterday over reports of a spike in the prices of rice, garlic and other agricultural products.

Villar raised questions why there are reports of of    increase in the price of rice when the government supposedly imported 500,000 metric tons of rice between December and January to help the country boost its supplies in the aftermath of Super Typhoon Yolanda.

“I am baffled, where are the 500,000 metric tons imported by the government in December-January? From the figures of imported rice, the supply is enough so there should not be a spike in the prices,” Villar said over dzBB.

Villar also said that the government also imported about 800,000 metric tons of rice in March, enough to supply the market since the shortage is only five percent of total rice production.

She is suspecting that some rice traders are hoarding their supplies in a bid to earn more money. 

She also suspects price manipulation as a reason for the increase in the prices of rice and other basic necessities. She noted that importation is a government-to-government transaction, so smugglers would not be earning more since there is enough supply. With Christina Mendez