BCCP urges govt to speed up MAV release to curb food inflation

The British Chamber of Commerce Philippines (BCCP), along with importers and trader groups, is urging the government to expedite the release of Minimum Access Volume (MAV) allocations to importers to prevent trade disruptions and rising food inflation.

BCCP Executive Chairman Chris Nelson highlighted concerns that delays in MAV distribution, which have also occurred in previous years, could disrupt the supply of goods.

Despite headline inflation steadying at 2.9% in January 2025, food inflation increased to 4.0% from 3.5% in December 2024, partly driven by faster increases in meat prices.

Nelson emphasized that maintaining a consistent supply of meat and other agricultural products is crucial in the fight against inflation.

He urged the MAV to be issued as before to all traders and importers to ensure a steady supply of high-quality British pork, beef, and poultry to the market.

Nelson also commended the extension of lowered tariff rates for pork and other agricultural commodities until 2028 under Executive Order No. 62.