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Gov’t lowers suggested retail price of chicken in Metro Manila

Rappler.com

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The lower suggested retail price is due to falling farmgate prices, the Department of Agriculture says

CHEAPER. The lower suggested retail price will remain until farmgate prices stabilize, the DA says.

MANILA, Philippines ­– The Department of Agriculture (DA) has lowered the suggested retail price (SRP) for chicken in Metro Manila markets due to falling farmgate prices.

Agriculture Secretary Proceso Alcala signed a memorandum directing the price adjustment, an SRP of P110 ($2.49) per kilogram for whole chicken, on April 15.

“This will be implemented effective on Monday, April 20,” Alcala said.

The new P110 per kilogram temporary SRP for whole chicken was recommended by the department’s Agribusiness and Marketing Assistance Service (AMAS) and the United Broiler Raisers Association, until farmgate prices stabilize.

The previous SRP for chicken was at P135 ($3.05) per kilogram.

The DA is monitoring the prices and supply of chicken in coordination with the Department of Trade and Industry (DTI).

The average farmgate price of chicken as of April 6 was placed at around P51 ($1.15) per kilo in Northern Luzon, with prices ranging from P47 ($1.06) to P54 ($1.22) per kilogram.

In Southern Luzon, the average farmgate price was placed at P53.20 ($1.20) per kilogram with prices ranging from P48-59 ($1.09-$1.33) per kilo. 

As of April 15, the prevailing price of fully-dressed chicken is P120 ($2.71) per kilo, with prices ranging from P98 ($2.21) per kilogram to P140 ($3.16) per kilogram. Meanwhile, prices of chicken in supermarkets range from P96 ($2.17) per kilogram to P112 ($2.53) per kilogram.

Choice cuts chicken would not be covered by the temporary SRP.

The farmgate price of chicken and hogs will be posted on DTI price bulletin boards in Metro Manila wet markets so consumers will know if the said commodities are being sold at reasonable prices, said Agriculture Undersecretary for Livestock Jose Reaño. 

The price difference of chicken at farmgate and retail should only be around P50 per kilo to cover the cost of transport, handling, storage, marketing and profit margins, noted Samahang Industriya ng Agrikultura (SINAG), an umbrella group of agribusinesses.

The prices of food staples such as rice, meat, and bread have been lower this month, which has contributed to lower inflation.  

Prices of sugar, however, are expected to rise throughout Metro Manila due to concerns about the imposition of value added tax (VAT) on raw and refined sugar and higher demand. (READ: Sugar prices rise on increased demand and VAT fears)  – Rappler.com

 $1 = 44.26

Photo from Shutterstock

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