The runaway prices of key food items in the market have prompted local and national agencies to call on President Duterte to implement a price freeze on pork, chicken and vegetables.
Following a virtual meeting, officials of the Departments of Agriculture and Trade and Industry, the Metropolitan Manila Development Authority, and chief executives in Metro Manila have agreed to recommend to the President to impose a price freeze on items like pork, chicken, fish and vegetables.
In particular, the Department of Agriculture has recommended a price ceiling of P270 a kilogram for kasim pigue, P300 a kilo for liempo, and P160 a kilo for dressed chicken.
These commodities are currently being sold for P400 a kilo for pork and P170 a kilo for chicken.
The escalating food prices are being blamed on hog and chicken shortages, while vegetable farms are still affected by the recent typhoons.
These shortages have pushed prices up by as much as 275 percent compared to levels a year ago.
Economists, however, are not too keen on the imposition of a price ceiling.
“That is not a good idea,” the country’s former chief economist Ernesto Pernia said.
Pernia said the most effective way to address the rising food prices would be to increase the available supply by all means—whether locally or importation.