Meat and poultry prices are going up in the Philippines
Meat and poultry prices are expected to grow in the Filipino market as the country is confronted with a shortage of corn that has already hiked up prices for animal feeds.
Due to adverse weather conditions and a delay in planting, crops necessary for animal feeds are in short supply this quarter.
Roger Navarro, president of Philmaize Federation, is already alarmed by the situation and warns that under the worst case scenario, the livestock and poultry industries might not have their corn this quarter since many farmers did not plant the grain this season, reports Business Inquirer.
Also, United Broilers Retailers Association president Elias Jose Inciong said producers were still able to absorb increases in corn prices now but this might change by the start of the third quarter.
In the last few weeks, the average retail price for a kilo of chicken was PHP 160 ($3), while beef rump and beef brisket stood at PHP 325 ($6) and PHP 290 ($5.4) a kilo, respectively. Processed pork is sold at a price of PHP 220-240 ($4.1 - 4.5)a kilo, depending on the cuts.
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