DA, DTI coming up with new SRP on imported pork

The Department of Agriculture,  and the Department of Trade and Industry are coming up with a new suggested retail price (SRP) on imported pork after Duterte's economic team and the Senate agreed to modify the tariff rates for imported meat products.

“Ang presyo po iba-base sa pinal na taripa (The price will be based on the final tariffs). We are now making the calculations and we are doing this in tandem with the Department of Trade and Industry,” Agriculture Secretary William Dar said during state-run PTV’s Laging Handa briefing on Saturday.

Dar said the new SRP on imported pork and pork products will be announced in the coming week.

The DA earlier set the SRP on imported pork as follows:

• Kasim - P270/kilo
• Liempo - P350/kilo

According to Dar, the SRP needs to be adjusted to reflect the new tariff rates agreed upon by the economic managers and the Senate.

In discussions with the Senate, economic team members and Agriculture Chief Dar said they "recommended that the tariff rates in EO (Executive Order) 128 be adjusted to 10% in-quota and 20% for out-quota for the first three months; and 15% in-quota and 25% for out-quota for the remaining nine months."

President Rodrigo Duterte signed EO 128 to reduce the tariff rates to 5% to 20% from 30% to 40% for a year amid the negative effects of African Swine Fever on pork supply.

But senators had asked for the revocation of the said EO, as reducing tariff rates would adversely affect local hog raisers.

“There will be a new Executive Order, highlighting or mentioning itong pagbaba ng taripa (the reduction in tariffs),” Dar said.

Apart from adjustments on tariffs, the Senate and the economic team also reached a compromise to reduce the minimum access volume (MAV) from 404,000 metric tons (MT) to 254,210 MT.

“With these twin measures -- MAV and the lowering of tariff of imported pork and pork products -- [we are seeing a decline in pork prices] to a level of about 23%,” Dar said. —LBG, GMA News