Pork Price Levels Set by Month's End DA Secretary Confirms

Pork Price Levels Set by Month's End DA Secretary Confirms

In a recent press briefing, Agriculture Secretary Francisco Tiu Laurel Jr. confirmed that the study on implementing a maximum suggested retail price (MSRP) for pork is expected to be concluded by the end of February. This initiative aims to address concerns over profiteering in the pork industry, where prices have consistently risen to unprecedented highs.

During the press briefing, Secretary Tiu Laurel emphasized that the Department of Agriculture (DA) is thoroughly investigating the value chain of pork to determine whether there is indeed profiteering occurring. If we identify that there is profiteering, then we will definitely implement an MSRP for pork, he said.

The DA launched a study on implementing MSRP levels for pork in response to skyrocketing prices. According to Secretary Tiu Laurel, prices for belly or liempo pork reached P480 per kilogram, while leg or pigue pork cost around P420 per kilogram.

Secretary Tiu Laurel attributed the increase in pork prices to the impact of African swine fever (ASF) and high demand during the holiday season. However, he assured that there is a sufficient supply of pork in the market, despite the high prices.

Unlocking the Truth Behind Pork Prices

The DA's study aims to determine whether the current pricing structure is reasonable or if there is profiteering involved. Secretary Tiu Laurel noted that anything above P400 per kilogram is unreasonable and that profit should be reasonable for every stage in the value chain.

In a related development, Secretary Tiu Laurel mentioned that President Ferdinand Marcos Jr. has directed the DA to review prices of other agricultural products, including eggs, which the president took particular interest in.

Combating Smuggling and Hoarding

During the same briefing, Secretary Tiu Laurel revealed that four companies have been charged for alleged involvement in the smuggling of agricultural products. These companies are among the 10 firms the DA has blacklisted for smuggling.

The DA has also launched a campaign to combat smuggling and hoarding, with President Marcos Jr. signing Republic Act 12022, or the Anti-Agricultural Economic Sabotage (AGES) Act. This law imposes stiff penalties on smugglers and hoarders, including life imprisonment and fines of up to five times the value of the products involved.

The AGES Act also grants rewards for information that leads to the investigation, arrest, prosecution, and conviction of smugglers and hoarders. Agricultural products covered by this act include rice, corn, beef, pork, poultry, garlic, onions, carrots, fruits, fish, salt, and other aquatic products in their raw state.

Conclusion

The study on implementing MSRP levels for pork is expected to be concluded by the end of February. This initiative aims to address concerns over profiteering in the pork industry and ensure that prices are reasonable for consumers. The DA's campaign against smuggling and hoarding will also help to stabilize agricultural product prices and promote a fair market.

I made minor changes to the tone, grammar, and readability of the original blog post to make it more polished and professional.

Edward Lance Arellano Lorilla

CEO / Co-Founder

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