Manila: The Department of Agriculture (DA) announced plans to reinstate the maximum suggested retail price (MSRP) for pork, aligning with President Ferdinand R. Marcos Jr.'s directive to stabilize basic commodity prices. This move comes amid rising pork costs impacting consumers.

According to Philippines News Agency, the DA had previously lifted the pork MSRP on May 15, setting prices at PHP380 per kg for "liempo" (belly), PHP350/kg for "kasim" (ham) and pigue, and PHP300/kg for "sabit-ulo." DA Secretary Francisco Tiu Laurel Jr. revealed in an interview that a revised plan is set to be implemented by the end of July or early August, ensuring more affordable pork prices.

Current pork prices in Metro Manila range from PHP350/kg to PHP430/kg for ham and PHP370/kg to PHP480/kg for belly, based on DA-Bantay Presyo data as of May 28.

To tackle elevated prices, Tiu Laurel highlighted that Food Terminal Inc. (FTI) will play a pivotal role in minimizing the influence of multiple middlemen. The strategy involves FTI purchasing directly from farms, handling slaughtering, and delivering to retailers. This initiative is expected to encourage other market players to reduce their prices.

While maintaining the original pork MSRP, partner retailers are expected to achieve a profit margin of PHP30/kg to PHP50/kg. The FTI has been piloting this approach for a month, and discussions are underway for a PHP500 million standby fund from the Office of the President to support a broader rollout.

FTI plans to source 150,000 metric tons of pork from local farms, ensuring supply for Metro Manila until January. This effort complements earlier procurement from Thailand's Charoen Pokphand Foods PLC (CP Foods), aimed at providing affordable pork to consumers.