Why are prices of milk, chicken, pork going up?
MANILA, Philippines - The Department of Trade and Industry (DTI) has approved the increase in the price of some powdered milk brands by as much as 10 percent starting July 1.
Trade Secretary Gregory Domingo said there has been a spike in world prices of milk, mainly due to strong demand from China.
Since the Philippines imports 90 percent of its milk products, it is affected by the rise in world prices.
"Lumaki ang demand ng gatas sa China. Kasi yun 90 percent ng gatas iniimport natin. Subject talaga tayo sa global prices. Eh ang China po, lumalaki ang kanilang consumption, so lumalaki ang importation niyan...Kaya umaakyat ang presyo ng gatas sa world market," he told DZMM's Failon Ngayon.
The bulk of milk imports come from New Zealand.
Meanwhile, the price of chicken and pork in the market are also going up.
But Domingo said hog raisers and poultry producers have assured him the supply of pork and chicken will stabilize in the next few weeks.
Domingo said hog raisers cited three reasons for the increase in price of pork in the market.
"Isa dahil sa effective anti-smuggling efforts ng gobyerno, natigil yun smuggled na baboy. Kaya konti ang supply. Pangalawa, yun baboy din from abroad tumaas ang presyo kasi napeste po ang mga baboy sa America. Malaking supplier po ang US ng baboy. Pangatlo, may konting natamaan din po ng peste dito, so mga baboy namatay. Itong 3 factors nag-combine kaya tumaas presyo ng baboy," he explained.
As for the price of chicken, Domingo said the hot summer weather affected poultry producers.
"Sabi nila dahil sa sobrang init na daranasan nung summer nakakaapekto yun sa laki ng manok. Dahil pag sobrang init, maliit lang po ang gini-gain nilang weight kaya na-delay ang paglabas ng manok nila," he said.
Domingo said poultry producers assured him the supply of chicken in the market will stabilize in the next two to four weeks.