The Department of Agriculture, and the Department of Trade and Industry will be setting a new suggested retail price (SRP) on imported pork.
This was after the government’s economic team and the Senate agreed to modify the tariff rates for imported meat products.
“Ang presyo po iba-base sa pinal na taripa. We are now making the calculations and we are doing this in tandem with the Department of Trade and Industry,” Agriculture Secretary William Dar stated during an online briefing on Saturday.
The new SRP on imported pork and pork products will be announced in the coming week, Dar said.
The DA earlier set the SRP on imported pork as follows:
- Kasim – P270/kilo
- Liempo – P350/kilo
The SRP needs to be adjusted to reflect the new tariff rates agreed upon by the economic managers and the Senate, Dar added.
President Rodrigo Duterte signed Executive Order (EO) 128 to reduce the tariff rates to 5% to 20% from 30% to 40% for a year amid the negative effects of African Swine Fever on pork supply in the country.
Dar said he and the economic team members “recommended that the tariff rates in EO 128 be adjusted to 10% in-quota and 20% for out-quota for the first three months; and 15% in-quota and 25% for out-quota for the remaining nine months,” during discussions with senators.
Senators had asked for the cancelation of the said EOR due to the lower tariff rates’ perceived unfavorable effect on the local hog industry.
“There will be a new Executive Order, highlighting or mentioning itong pagbaba ng taripa (the reduction in tariffs),” Dar said.
Aside from the tariff adjustments, the Senate and the economic team also compromised to reduce the minimum access volume (MAV) of imported pork and pork products from 404,000 metric tons (MT) to 254,210 MT.
“With these twin measures — MAV and the lowering of tariff of imported pork and pork products — [we are seeing a decline in pork prices] to a level of about 23%,” Dar said. Ronald dela Cruz