Filipino frozen pork inventory grew by 66%
Frozen pork inventory in the Philippines stood at 73,294 tonnes this month, 65.8% higher than a year ago, according to the National Meat Inspection Service (NMIS) data. NMIS data showed that imported pork accounted for the bulk of the inventory at 71,528 tonnes, while local pork only had a 1,766.3 tonnes share.
As part of the government’s effort to bring down prices and stabilize the supply of pork in the country, President Duterte issued Executive Order (EO) 133, which increased the Minimum Access Volume (MAV) for pork meat to 254,210 tonnes for 2021.
Duterte also signed EO 134, which provides that in-quota pork imports or those under the MAV are imposed a 10% tariff for three months and increased to 15% in the remaining months. This is lower than the original rate of 30%.
Out quota pork imports are slapped with a 20% tariff for the first three months, which will be raised to 25% in the remaining months. This is lower than the original tariff of 40%, according to the Philstar newspaper.
Meantime, Filipino pig producers are showing their discontent about the decisions that allowed more pork imports in the country. For the first 9 months of the year, 439,300 tonnes of imported pork have entered the Filipino market, 261% higher than the similar period last. At the same time, farm gate prices have started to drop, according to the National Federation of Hog Farmers and Pork Producers Federation of the Philippines. "The intention of the government to increase MAV or in-quota volume is to fill in the gap of supply for ASF affected areas only, but data shows that even in areas not affected by ASF there are too many arrivals of imported pork causing downward trend on farmgate prices," declared Rolando Tambago, president of the Pork Producers Federation of the Philippines.
Spain has been the biggest supplier of pork in the Filipino market, with 104,000 tonnes, followed by Canada (92,000 tonnes) and the US (58,000 tonnes). More than 500,000 tonnes of pork are expected to be imported by the Philippines in 2021.
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