The National Price Coordinating Council (NPCC) is retaining the suggested retail price (SRP) for poultry products, including chicken, for one month, Department of Trade and Industry (DTI) Secretary Gregory L. Domingo said during the NPCC meeting Thursday.
DTI, as chair and secretariat of the NPCC, noted that the industry also agreed to retain the Php110-per kilo of chicken to enhance consumption of the product and balance its supply.
Department of Agriculture (DA) Undersecretary Jose C. Reaño explained that since the supply of chicken dramatically declined after Typhoon Glenda in July 2014, prices of chicken surged last year which controls consumption while breeders also increased the production of chicken causing the current oversupply of the agricultural product.
“Once the situation is balanced, we’re looking to increase SRP again to protect the loss of our breeders,” said Reaño.
Meanwhile, DTI’s Domingo said the NPCC may review the SRP for sugar in its next meeting after sugar farm gate price increased and the move of the Bureau of Internal Revenue (BIR) to put value-added tax (VAT) on raw materials of refined sugar.
“We will be looking at the impact of that and review SRP for sugar in the next meeting,” he said noting that the Php50-per kilo SRP of white sugar was stable since 2011.
Manila Bulletin
