President Rodrigo Duterte approved an executive order (EO) setting a price ceiling on pork and chicken.
EO No. 124, signed on Monday, February 1, imposes the following price range limits for 60 days:
- Pork (pigue) – P270 per kilo
- Pork liempo – P300 per kilo
- Dressed chicken – P160 per kilo
The EO was proposed by the Department of Agriculture (DA), as pork prices soared to as high as P450 per kilo in January, which is already around the same price of premium beef.
The hog industry struggled with supply due to outbreaks of African swine fever, as well as constraints in capital amid the coronavirus-triggered recession.
Agriculture Secretary William Dar said traders manipulating prices are the ones to blame for the price hikes in recent months.
Along with the price ceiling, the DA also proposed lower tariffs on pork imports to tame prices.
However, some senators have questioned the proposal, saying that it would hurt the local industry. – with reports from Pia Ranada/Rappler.com