Business NEWS

The validity of Executive Order (EO) 124, which imposed a price ceiling on pork and chicken in Metro Manila, will end this week, and the government and private sector have two completely different sentiments about its effectiveness.

Some of the country’s agri-fishery commodities, such as rice, pork, fish, and chicken, were sold in select markets in Metro Manila higher than their suggested retail price (SRP) almost throughout the holidays.

The Department of Agriculture (DA) will make sure that the price freeze on some agricultural and fishery commodities is “strictly” observed in Luzon amid the declaration of state calamity in the region, which was badly battered by a series of typhoons.

The government’s recently imposed suggested retail price (SRP) on pork is not working, at least based on the latest price monitoring report of the Department of Agriculture (DA).

Noche Buena products manufacturers are seeking as much 3 percent increase in their suggested retail prices (SRP) due to increased cost of production.