The departments of trade and industry and the agriculture are finalizing within this week a price cap for imported pork which could even be lower than the existing price ceiling on pork.

This was revealed by Trade and Industry Secretary Ramon M. Lopez during the Malacanang public press briefing of Presidential Spokesperson Harry Roque.

According to Lopez, he suggested for a lower price ceiling on imported pork that are sold in supermarkets and grocery stores.

He explained that the current price ceiling on pork and chicken are applicable mostly in wet markets. These pork and chicken supply in the wet markets are also mostly sourced from local hog and poultry raisers. But the imported pork are largely sold in supermarkets and groceries.

This way, he said, consumers have the option to buy from the supermarkets and groceries where prices are lower instead at the public wet markets where prices could be higher.

In an executive order, Malacanang imposed a price cap of P270 per kilogram (/kg) for pork kasim and P300/kg for pork liempo.

“The fact that we have competition in the playing field, it is certain that prices will go down because there are more players in the market,” he said.

He also said that the biggest problem now is the lack of supply because of the African Swine Flu, but once supply is back, prices will also go down. That is why the Department of Agriculture is also working for higher volume of pork importation at lower tariff where traders and vendors are allowed a reasonable margin and still sell at prices even lower than the current price ceiling.

Lopez also said that the Economic Intelligence team, which was created to probe alleged price manipulators, has received tips and leads but these are still subject to further investigation. Aside from the DTI and DA, the intelligence team also includes the National Bureau of Investigation, Philippine National Police, National Intelligence Coordinating Agency, and the Philippine Competition Commission, among others.

Lopez warned that authorities are going all out to catch unscrupulous traders. He recalled that during the height of pandemic last year where there was shortage of disinfectants and medical devices such as alcohol and face masks, some 500 traders had been arrested for various violations.