Retail prices of choice pork items like liempo, pigue and kasim have gone down in Metro Manila markets, from their week-ago rates of as high as P160-P170 per kilo following a market visit conducted yesterday morning by Agriculture Secretary Arthur C. Yap.
The reduction in retail pork prices, according to Yap, is the result of an agreement reached last Monday among major hog industry players and the Department of Agriculture (DA) for the adoption of a “reference price” band of P140 to P150 for pork prime cuts.
Yap conducted a market visit yesterday to ascertain if the retailers are abiding by the agreement. He said choice pork cuts now sell, as low as P135 in some stalls in Mega Q-Mart, Quezon City, while most markets are selling at P140 to P145 a kilo.
Yap instructed DA Assistant Secretary Salvador Sala-cup and Bureau of Animal Industry Director Davinio Catbagan to monitor more markets to check whether the agreement reached with industry players — from producers and meat processors to wholesalers and retailers — has started “to bear fruit.”
According to Yap, “as agreed upon during the Oct. 6 dialogue at the DA central office, agriculture officials and hog industry players would be meeting on a regular basis to review the ‘reference price’ accord and to take up other concerns that are meant to ensure the steady supply at reasonable prices of prime pork cuts, especially during the Christmas season.”
Over 30 industry players have agreed to bring down the retail price of prime pork cuts by observing a “reference price” ranging from P140 to P150 per kilo for choice cuts.
The reference price was based on the difference between the prevailing farm gate price and the retail price and providing for a reasonable profit margin.