MANILA: The Department of Agriculture (DA) is considering the implementation of a maximum suggested retail price (MSRP) for pork, alongside penalties for profiteering, as pork prices continue to surge in Metro Manila markets.

According to Philippines News Agency, the DA announced its plans amidst the notable increase in pork prices across the region. Assistant Secretary Arnel de Mesa revealed that the study includes determining an appropriate MSRP for pork, following similar measures applied to rice. De Mesa also mentioned that individuals found guilty of profiteering could face consequences under the Anti-Agricultural Economic Sabotage Act, which covers smuggling, hoarding, and profiteering.

De Mesa emphasized that the markup from farmgate to retail should not exceed a little over PHP100, as per industry standards. He highlighted that current farmgate prices range from PHP220 to PHP250, while market prices exceed PHP400 in certain areas, indicating an excessive increase.

The DA’s Bantay Presyo report indicates that the prevailing price of pork liempo in Metro Manila stands at PHP426 per kilogram, with prices ranging from PHP390 to PHP460 per kilogram. Pork kasim prices vary between PHP330 and PHP400 per kilogram, averaging at PHP375 per kilogram. In contrast, frozen pork liempo and kasim are priced lower, between PHP280 and PHP350 per kilogram and PHP230 and PHP280 per kilogram, respectively.

Secretary Francisco Tiu Laurel previously stated that the DA requires two weeks to investigate the reasons behind the rising pork prices, despite stable supply inventories, and to determine if profiteering is occurring in local markets.