DA eyes MSRP for garlic, eggs amid profiteering concerns
Department of Agriculture (DA) Secretary Francsico P. Tiu Laurel Jr.
PHOTO FROM DA FB PAGE
MANILA, Philippines – The Department of Agriculture (DA) is considering the imposition of a maximum suggested retail price (MSRP) on garlic to prevent possible profiteering, Agriculture Secretary Francisco Tiu Laurel said.
In a news release on Tuesday, Tiu Laurel said the proposal to impose an MSRP on garlic has been under discussion, but was placed on hold after the price per kilo dropped to around P100, down from a peak of P160.
READ: DA sets aside P85M for small-scale egg production
The higher price was double the estimated landed cost of P80 per kilo.
Imported garlic accounts for 95 percent of the market supply, with significant volume being sourced from China.
“Since the price has fallen to around P100 a kilo, we had to hold back. I think the current price is reasonable given their cost of around HPP80,” Tiu Laurel said. “But if prices spike again, we will definitely implement an MSRP.”
The DA is also closely monitoring the prices of eggs to ensure they don’t rise to unreasonable levels.
Tiu Laurel noted that rising demand due to election spending and increasing chicken mortality from higher temperatures are contributing factors to the price fluctuations.
He said DA monitoring places egg prices within the P6-P8 range, lower than the reported P10-P12.
“There are some who are suggesting we implement an MSRP on eggs but, as with other goods like rice and pork, we have to consult stakeholders first so as not to shock the industry,” he said.
Meanwhile, the DA on Monday further reduced the MSRP for imported rice to P45 per kilo from P49, reflecting the global decline in rice prices.
For pork, the DA set an MSRP of P380 per kilo for liempo (belly) and P350 per kilo for kasim (ham) and pigue; and P300 per kg. for sabit-ulo following a series of stakeholders’ meetings across the hog industry.
While compliance has improved, it is still not at the ideal level, the DA said.
