Pork prices could hit P500/kilo amid soaring fuel costs

The Department of Agriculture (DA) has warned that pork prices could reach over P500 per kilo amid the ongoing fuel crisis caused by the conflict in the Middle East.

In a report on Thursday by Marisol Abdurahman for "24 Oras," the DA said pork prices could jump nearly 60%, while rice prices could rise by almost 50% if the conflict worsens.

Consumers and vendors alike have expressed concern. Some shoppers are reducing the amount of pork they buy, while others are turning to more affordable alternatives like fish and vegetables.

Meanwhile, a vendor said he is considering becoming a fisherman, fearing he may have to close his business if prices continue to climb.

At Mega Q Mart in Quezon City, pork liempo is currently sold at P400 per kilo, while other cuts range from P320 to P340 per kilo.

Pork at Kamuning Public Market is priced at around P380 per kilo. Rice prices have also increased by up to P5 per kilo.

Rosendo So of the Samahang Industriya ng Agrikultura (SINAG) said the increase in rice prices is higher than expected.

“Ang presyo ng palay ngayon is P28. Ang dapat na lalabas sa miller is P46. Delivered sa retailer, sabihin natin up to retail, dapat P52 to P54 sa retail price ng bigas. Tayo nasa harvest timing,” he said.

(The current price of unhusked rice, or palay, is P28. It should fetch around P46 from the miller and, delivered to retailers, should retail for about P52–P54 per kilo. We are currently in harvest season.)

So added that the farmgate price of pork is around P185–P190 per kilo, which translates to a retail price of roughly P340–P350.

SINAG said the country is unlikely to reach the worst-case scenario, as the suspension of excise tax on fuel is expected to lower prices next week.

The National Price Coordinating Council has also agreed to the DA’s recommendation to cap rice prices at P50 per kilo.—Mariel Celine Serquiña/MCG, GMA Integrated News