Philippines to scrap maximum suggested retail price for pork

CHOICE CUTS Consumers buy pork at a stall in Commonwealth Market in Quezon City on Thursday, Oct. 12. —Grig C. Montegrande

MANILA, Philippines — The Department of Agriculture (DA) will lift the maximum suggested retail price (MSRP) for pork, but vowed to develop a “better” policy to keep retail prices in check.

“I’ll give you a hint: it will be lifted but while we are studying on how we can implement the MSRP. It’s called [taking] one step back and two steps forward,” Agriculture Undersecretary Constante Palabrica said in an interview on Wednesday.

Palabrica said the agency would look into this mechanism, noting the challenges in finding the balance between local supply and prices.

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“Basically, like what I said earlier, it’s the law of supply and demand. Because of the loss of hogs due to the ASF (African swine fever) and there is so much demand because of the present election, it’s difficult to implement,” Palabrica said.

“So, expect a possible revision of MSRP, holding it for the meantime while we are studying on how to make it really effective,” he told reporters.

To recall, the DA set the MSRP at P380 per kilogram for pork liempo and P350 per kg for pork kasim and pigue.

READ: DA pushes P380 per kilo pork belly price limit