Philippine President Duterte sets new price for hogs

Philippine President Duterte Sets New Price for Hogs

President Rodrigo Duterte of the Philippines has issued an executive order setting a new price for hogs in the country in an effort to address the rising food prices in the country. The new price, which is lower than what hog raisers have been demanding, has been met with mixed reactions from the industry and the public.

The executive order sets the price of live hogs at PHP 270 ($5.60) per kilogram in Metro Manila and PHP 260 ($5.40) per kilogram in other regions. This is significantly lower than the PHP 350 ($7.25) per kilogram that hog raisers have been demanding.

The government has justified the new pricing scheme, saying that it is necessary to keep the price of pork products affordable for consumers amid the COVID-19 pandemic. The Department of Agriculture has also noted that hog raisers have been receiving high profits in recent years, and that the price adjustment is meant to help them adjust to the changing market conditions.

Some industry groups have opposed the new pricing scheme, saying that it is unfair to hog raisers who have been struggling with rising costs of production. They argue that the new price is too low and that it will lead to losses for farmers.

Others, however, have welcomed the move, saying that it will help control the price of pork products and make them more accessible to consumers. They argue that the high prices of pork products have been a burden for many Filipinos, especially during the pandemic.

The government has also promised to provide support to hog raisers to help them adjust to the new price. This includes providing loans and other forms of financial assistance, as well as helping them access new markets and technologies to improve their production efficiency.

The Philippines has been facing high food prices in recent months due to various factors, including the impact of the COVID-19 pandemic on supply chains and logistics. The government has been implementing various measures to address the problem, including importing more food products and adjusting tariffs on imports.

Despite these efforts, food prices remain high, and many Filipinos are struggling to afford basic necessities. The new pricing scheme for hogs is just one of the many steps that the government is taking to help alleviate the situation.

Overall, the new pricing scheme for hogs in the Philippines has generated significant debate, with differing opinions from industry groups, consumers, and the government. While some are opposed to the new price, others welcome it as a step towards making pork products more accessible to Filipinos amid rising food prices.