DA: Pork prices may drop P10-P20 this month

Pork prices are expected to decrease this month as farmgate prices continue to drop, according to the Department of Agriculture.

Farmgate prices have fallen from P250-260 last month to a range of P220-P240 currently, contributing to a potential 10 to 20 peso reduction in pork production costs.

Retailers are already seeing a slight decrease in pork ham and belly prices, with the former ranging between P350 and P420 from P370 to P430 at the start of March.

The Department of Agriculture has not yet announced an official maximum suggested retail price (MSRP) for pork but is considering implementing it gradually similar to what was done with rice prices.

Increased hog production, coupled with the impending release of the ASF vaccine at a commercial level, further contributes to expectations of continued price reductions in the coming months.