Imports, low demand depress farm-gate prices of hogs
By: Karl R. Ocampo, Philippine Daily Inquirer (Philippines)
July 15, 2021
The easing of pork importation and the usual decline in purchases during the rainy season have dragged down the farm-gate prices of hogs, industry groups said.
Moreover, the United States Department of Agriculture (USDA) said the government’s imposition of a price ceiling on pork to rein in prices further discouraged local producers from reinvesting in hog raising.
Price surveys conducted by the Samahang Industriya ng Agrikultura (Sinag) showed that farm-gate prices of hogs as of end-June decreased by between P20 to P30 a kilogram across regions against rates in May, or when President Duterte ordered to raise the import volume that were slapped with lower tariffs by 200,000 metric tons and slash the pork tariffs to a low of 5 percent from a high of 40 percent...