Pork, rice prices to drop by March 31 – Palace

Metro Manila, Philippines – Prices of pork and rice are expected to drop further before March ends due to lower world prices, Presidential Communications Office (PCO) Undersecretary Claire Castro said Wednesday, March 5.

In a Palace presser, Castro cited a meeting with Agriculture Secretary Francisco Tiu Laurel and said the price of Dai Thom 8 (DT8) rice will drop ₱4 — from the average ₱49 per kilogram to ₱45 by March 31.

“Ang sabi po ni Secretary Laurel ay bumaba po ang world price…Isa lamang po ‘yan sa nakikita po nating dahilan para bumaba ang presyo ng bigas,” Castro said.

[Translation: Secretary Laurel said the world price has dropped…That is just one of the reasons we see the decline in prices.]

The undersecretary said rice prices were reduced to $380 to $400 per ton from $700 to $740 per ton.

According to Castro, DT8 is imported rice from Vietnam which Laurel said is widely prefered by local consumers.

“Ang karamihan daw sa mga Pilipino ay mas gusto nila yung mas mahal na uri, ‘yung DT8 (He said many Filipinos prefer the more expensive kind, the DT8,),” she said, citing Laurel.

The Department of Agriculture earlier reduced the maximum suggested retail price (MSRP) of imported premium rice to ₱49 per kilo starting March 1 in selected areas, including Metro Manila.

In an interview on Monday, Laurel told reporters that a further reduction to P45 might be implemented in late March.

Pork prices

Meanwhile, pork prices are set to decrease by March 10 with shoulder (kasim) and leg (pigue) cuts falling between ₱350 to ₱360 per kilo and pork belly prices to ₱380 per kilo.

Castro said she would further consult with Laurel about the reason for the drop in pork prices.

The DA has raised the possibility of an MSRP policy on pork, but it deferred the plan to hold further consultations with stakeholders.

Agricultural group SINAG also told NewsWatch Plus that it was “amenable” to a price ceiling of P380 for liempo and belly and P360 for kasim and pigue. 

Sought for the DA’s side regarding Castro’s statement, Agriculture spokesperson Arnel de Mesa told reporters he has to “check” what the Palace official said and did not give further comment.

During the interview, De Mesa said the agency has seen lower farmgate prices for pork as areas with active African Swine Fever cases went down to at least 50 barangays.

High pork prices have been seen since before the Christmas season.

NewsWatch Plus multiplatform producer Jelo Ritzhie Mantaring contributed to this report.