Pork inventory seen sufficient until first quarter of 2024

THE supply of pork is expected to be ample until the first quarter of 2024, despite the expected increase in yearend demand, an industry group said on Monday.

Samahang Industriya ng Agrikultura Executive Director Jayson H. Cainglet said there are no supply issues with pork, though farmgate prices remain out of step with retail prices.

“(For) stocks and supply we aren’t seeing a problem but farmgate prices for pork is declining, and yet retail prices are getting higher,” Mr. Cainglet told BusinessWorld by phone. “We really have a lot of stock until the first quarter of next year.”

Mr. Cainglet said farmgate prices of pork were now hitting P150 to P160 per kilogram.

“This means that the procurement of hogs is slow because there are many pigs in the market, either live or frozen,” he added.

The farmgate price of backyard hogs, as of Oct. 9, was P140-160 per kilo, while the farmgate price for commercial hogs was P130-180 per kilo, according to Department of Agriculture’s (DA) price monitors.

He said shipments of pork will increase towards the end of the year, further boosting supply.

Mr. Cainglet said the industry has adjusted after the outbreak of African Swine Fever (ASF), particularly commercial hog raisers.

“We would rather have the backyard (hog raisers) make a comeback. But because of ASF, it is more difficult for (them) to return compared to commercial growers,” he added.

The DA said it has distributed 85,601 sentinel pigs as of Sept. 15, to over 32,437 ASF-affected farmers through its National Livestock Program (NLP). Sentinel pigs are so called because their presence in farms that had been decontaminated will serve as early warning if the disease lingers.

“At the start of the second quarter of 2022, the growth of our swine industry has been positive. And of course, our department took the lead so that our pig farmers can recover from ASF,” NLP Director Ruth S. Miclat-Sonaco said in a statement.

The DA added that 56 farmers’ cooperatives and associations had been given grants to procure 9,240 breeders.

Philippine pork production is expected to hit 925,000 metric tons representing a 5% downgrade of a previous forecast due to the continued presence of ASF in top producing regions, the US Department of Agriculture said. — Adrian H. Halili