The Department of Agriculture (DA) expects pork prices to decline this March following an agreement among hog industry stakeholders to reduce costs.
According to DA Assistant Secretary Arnel de Mesa, farmgate prices are already decreasing ahead of a possible announcement on a suggested retail price (SRP) for pork. From a previous high of P250 to P260 per kilo, farmgate prices have gone down to around P220 to P240, which could translate to a P10 to P20 reduction in retail prices.
Latest DA monitoring shows pork ham now selling for P350 to P420 per kilo, slightly down from P370 to P430 earlier this month. Pork belly prices also dipped to P375 to P480 from the previous P380 to P480.
De Mesa added that the gradual recovery of hog production and the upcoming commercial release of the African Swine Fever (ASF) vaccine are helping stabilize supply, which could further drive prices down.
Meanwhile, the DA has yet to confirm if an official SRP on pork will be implemented but assured that prices are expected to ease steadily, similar to previous adjustments seen in rice prices.
