The Department of Agriculture (DA) may soon cut the suggested retail price (SRP) of chicken and pork products because farm gate prices continue to go down.
Undersecretary for Livestock Jose Reano said the SRP for chicken may drop to P90 to P95 per kilo from the present P135.
“Farmgate prices of chicken has gone down to all time low of P52 per kilogram, from P84/kg,” Reano said.
At present, the country has a stockpile of about 17 million kilos of frozen chicken.
The prevailing market price of chicken is P125 to P140 per kilogram.
Reano said they are also considering lowering the SRP for pork products as farm gate prices dropped by about P5/kg from last month.
Farm gate prices ranged from P107 to P113/kg for swine, while the prevailing retail price was pegged at P 170 to P195 for kasim and P180 to P210 for liempo.
The DA official said they are coordinating with the Department of Trade and Industry and will soon come up with the price survey results for the last two weeks.