DA: Oil rollback won’t significantly lower food prices

Despite expected oil price rollbacks next week, the Department of Agriculture (DA) said these are unlikely to immediately bring down food prices.

According to a "24 Oras Weekend" report by Bea Pinlac, consumers continue to feel the impact of high fuel costs, with meat and other food items remaining expensive in markets.

At Mega Q-Mart, pork shoulder and butt are priced at around P360 per kilo, while liempo ranges from P420 to P450 per kilo.

DA spokesperson Assistant Secretary Arnel de Mesa said the rollbacks could at least prevent further increases, noting that the previously projected price of P589 per kilo is no longer expected.

“Makakatulong para hindi na tumaas pa lalo… pero hindi pa siya ganoon na magdudulot ng significant na pagbaba,” he said.

(It would help prevent further increases… but it is not expected to cause a significant drop.)

De Mesa added that ample imported supply is helping stabilize prices.

“Sa ngayon marami tayong imported [stock]… punong-puno ang cold storages natin. Hindi natin nakikita na aabot sa P589,” he said.

(We currently have ample imported stock… our cold storages are full. We don’t see prices reaching P589.)

Meanwhile, pork vendors said minimal rollbacks would have little effect on retail prices.

“Kahit bumababa ng bahagya, mahirap magbaba kung konti lang ang rollback. Kailangan at least P10 hanggang P20. Bababa kami ng mga P5,” said pork vendor Elizabeth Espino.

(Even if prices go down slightly, it’s hard to reduce prices if the rollback is minimal. It needs to be at least P10 to P20. We might lower prices by around P5.)—Jiselle Anne C. Casucian/MCG, GMA News