Home Blog Page 9447

Father’s Day gift ideas

Montblanc headphones

As Father’s Day draws near, consider something from Montblanc. Montblanc pieces are designed to become fine lifetime companions, and are meant for men who appreciate artisanal craftsmanship and innovation. Among the gift suggestions are Montblanc’s first Smart Headphones, the Montblanc MB 01 wireless over-ear headphones. Made of aluminum, silicone and leather, each headphones weighs only 280g and is fitted to provide an immersive sound experience. It has active noise cancelling and Google Assistant, and is comfortable and foldable. For something a bit more traditional from a company best known for its pens, there is the Meisterstück Le Petit Prince & Planet, the third and final addition to the writing instrument collection inspired by the book The Little Prince. The polished burgundy-colored precious resin on the cap and barrel of this writing instrument references the story’s rose. The handcrafted 14ct gold nib of the fountain pen features a design of the prince weeding his planet — a symbol of love expressed through caring for others. The clip of every edition is adorned with a lacquered gold-colored star, a reference to The Little Prince’s advice to remember his laugh by simply looking at the stars above. The cap of each writing instrument is etched with the words of the fox: “On ne voit bien qu’avec le coeur” (“One sees clearly only with the heart”). Other gift suggestions are an item from the Montblanc Meisterstück Soft Grain Leather Collection of business luggage and accessories; the My Montblanc Nightflight collection of transit accessories like envelope bags and backpacks; the Montblanc 1858 line of sporty vintage timepieces; and the new Summit 2+ Smartwatch. To shop online, visit www.rustans.com. Rustan’s Makati, Shangri-La, and Gateway are open daily from 11 a.m. to 7 p.m., while Rustan’s Alabang is open from 11 a.m. to 6 p.m.

Personal grooming

One good way to say thanks to Dad is to elevate his self-care routine with personal grooming kits from Babyliss. The Performance Endurance Power Clipper is equipped with all the accessories he would need to achieve the perfect hairstyle at home. It features a lightweight, ergonomic handle and eight interchangeable cutting guides of various lengths that powerfully cut through, allowing him to easily snip and detail his hair. And if his beard is becoming quite unruly lately, then the Precision Beard Trimmer will solve all his woes. This cordless trimmer features a five-position multi-length comb and three jawline and side burn blending combs for easy styling. It also comes with a convenient storage stand that he can neatly stow away in his dresser. Babyliss is exclusively distributed by Rustan Marketing Corp. and available in leading department stores nationwide.

Father’s Day Takeaway Indulgence

Conrad Manila toasts all Dads this Father’s Day, June 21, with its “Takeaway Indulgence” from China Blue by Jereme Leung and signature cakes from Brasserie on 3 inspired by the Man of the House. Executive Chinese Chef Eng Yew Khor has come up with a feast of authentic Chinese favorites such as: Braised garoupa fillet with fish lips in Chinese leek XO sauce; Sautéed premier US beef with onions, dry chili, Chinese sweet vinegar; Crispy baby pigeon, Chinese herbal-style; and Chilled marinated jellyfish with sesame Sichuan chili sauce; among others. Price starts at P14,000 nett for five diners. The “Father’s Day Indulgence” Set Menu includes a bottle of house wine. Dad also gets a chance to bring home gifts from Ibarra Watches and Masanting Sasteria. For a sweet treat, choose from a Bourbon Mud Pie (P1,100 nett), or Irish Cream Profiterole Cake (P1,500 nett). For Father’s Day Takeaway Indulgence pre-orders or inquiries, call 0917-650-4043 or e-mail conradmanila@conradhotels.com.

Coffee Project ready for dine-in customers

Coffee Project has boosted its campaign to welcome both take-out and dine-in customers as the country restarts the economy under a new norm that puts in place more precautionary measures.

Under its “Stronger Apart” campaign, the company said it had ensured a safe and comfortable environment for both its guests and staff.

It has placed acrylic dividers on tables for customers who still want to dine face-to-face. It said the flowers that Coffee Project is known for are used to signal social distancing to customers. These are placed in chairs and tables to ensure the six-feet apart rule.

“Each table also has a QR code that guests can scan to access the menu, discouraging the use of handheld ones. Every table and chair as well as the restrooms will also be sanitized after every use,” it said.

“The body temperature of the employees is being checked regularly to ensure that each staff is healthy and fit to work. They are required to wear masks, face shields and disposable gloves. Regular hand washing throughout the day is also mandatory,” it added.

Only a limited number of guests will be allowed in the store to ensure social distancing. Waiting guests will be seated in the al fresco as they fill out their health checklists.

“Personnel will check the guest’s body temperature and spray alcohol to their hands upon entrance to guarantee that they are healthy and sanitized. A separate waiting area is also in place for delivery riders like Foodpanda and GrabFood to minimize the number of people inside the store,” it said.

Inside the store, social distancing will still be monitored, it said.

“There are floor markers leading towards the cashier to guide customers with their distancing. Also, to avoid physical contact between the guest and staff, clear acrylic dividers in the counter and dispatch areas are in place,” it said.

Payment trays that are sanitized after every transaction are also used to avoid direct hand contact. Coffee Project is also encouraging cashless transactions using GCash and AllEasy.

Those craving for Coffee Project may opt for delivery, take out, curbside pick up, and soon dine inside the cafe. It is present in all major food delivery services throughout the country and also has its own delivery through its website, www.coffeeproject.com.ph or its Facebook page.

PHirst Park Homes holds 1st digital project launch

PHIRST Park Homes, Inc. (PPHI) is set to launch its sixth horizontal community project in Nasugbu, Batangas on June 20.

The project, located in Batulao, will be unveiled during a watch party on PPHI’s official Facebook page (Facebook.com/PhirstParkHomesOfficialPage). New brand ambassador Robi Domingo will lead the launch event.

The newest PPHI community is located just 1.5 hours from Manila, 15 minutes from Tagaytay’s city center and 42 minutes from Nasugbu’s beaches. It is adjacent to Century Properties Group, Inc.’s (CPG) residential tourism estate Batulao Artscapes.

“The property offers PPHI’s signature 4Cs: Complete and well-provisioned homes with a perimeter fence and gate; Conceptive amenities including an outdoor cinema; Connected living through WiFi zones and a shuttle service; and a Convenient and simplified selling and buying experience,” PPHI said in a statement.

PPHI has so far launched five projects covering a total of 91 hectares and 8,799 units valued at P14.4 billion. These are the 26-hectare PHirst Park Homes Tanza (Cavite), the 20-hectare PHirst Park Homes Lipa (Batangas), the 18-hectare PHirst Park Homes San Pablo (Laguna); 11-hectare PHirst Park Homes Pandi (Bulacan); and 9-hectare PHirst Park Homes Calamba (Laguna).

The company, a joint venture between CPG and Japan’s Mitsubishi Corp., said developments and construction in all of its projects have resumed in May after complying with government protocols.

Philippines improves score in global peace ranking (but remains the second-least peaceful in Asia-Pacific)

Philippines improves score in global peace ranking (but remains the second-least peaceful in Asia-Pacific)

How PSEi member stocks performed — June 15, 2020

Here’s a quick glance at how PSEi stocks fared on Monday, June 15, 2020.


Peso declines on flight to safety on worries over new infections

THE PESO weakened versus the dollar on Monday on safe-haven demand amid escalating worries over a second wave of infections and as the market priced in the impact of the pandemic on remittances.

The local unit ended trading at P50.345 against the dollar, down by 15 centavos from its P50.195 finish on Thursday, according to data from the Bankers Association of the Philippines. Trading was suspended last Friday for Independence Day.

The peso opened Monday’s session at P50.30 per dollar. Its weakest showing was at P50.39 while its strongest was at P50.24 against the greenback.

Dollars traded totaled $791.9 million on Monday, lower than the $874.24 million seen on Thursday.

A trader attributed the peso’s depreciation to market fears of a second wave of coronavirus disease 2019 (COVID-19) infections.

“It’s still safe-haven on the back of fears of second wave likely to come out…,” the trader said in a phone call.

Reuters reported Beijing saw its second successive record new numbers of COVID-19 on Monday, still traced to a wholesale food market which accounts for 80% of Beijing’s farm produce supply. Officials reported 36 new infections for June 14, following the same number tracked a day earlier, and is the highest daily infection rise in the city since late March.

Some states in the US are also seeing a trend of rising patients filling hospital beds due to the virus, including Texas and Arizona.

Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said market sentiment on the local unit was dragged by the release of remittance data.

“The peso exchange closed weaker after the latest decline in the OFW (overseas Filipino workers) remittances data,” Mr. Ricafort said in a text message.

Bangko Sentral ng Pilipinas (BSP) data released last week showed cash remittances dropped by 4.7% to $2.397 billion in March from the $2.514 billion logged a year ago amid the COVID-19 situation.

The BSP now expects remittances to contract by 5% this year from the 2% growth it forecasted in May. The World Bank earlier said it expects a 20% drop in global remittances due to the pandemic.

The trader gave a forecast range of P50.20 to P50.50 per dollar for today while Mr. Ricafort expects the local unit to move between P50.20 to P50.45. — L.W.T. Noble with Reuters

PSEi down by almost 5% on second wave fears

By Denise A. Valdez, Reporter

THE MAIN INDEX plummeted on Monday on increasing worries over a second wave of coronavirus disease 2019 (COVID-19) cases across the world.

The bellwether Philippine Stock Exchange index (PSEi) erased 312.42 points or 4.82% to settle at 6,163.82 at the end of session. The broader all shares index likewise wiped out 152.33 points or 4.01% to end at 3,646.83.

“The risk-off sentiment was prompted by rising concerns that the ‘second wave’ of infections has started,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said in a text message.

Data from the Johns Hopkins Coronavirus Resource Center showed there were 7.91 million COVID-19 cases across the world as of Monday, with new cases reaching about 134,000 on Sunday.

“US markets declined about 1,800 points last Thursday with a weak snapback on Friday. But since we were on holiday, investors were only able to react today (Monday),” Mr. Lisbona said.

The decline in the local market is in line with the drop across Asian markets. Japan’s Nikkei 225 and Topix indices fell 3.47% and 2.54%, respectively. China’s Shanghai Shenzhen CSI 300 index dipped 1.20% and South Korea’s Kospi index slid 4.76%.

Philstocks Financial, Inc. Research Associate Claire T. Alviar said another factor that weighed on sentiment is the fate of the quarantine in Metro Manila. The relaxed lockdown currently in place over the region is set to expire Monday. Investors are awaiting announcement from the government whether the quarantine will be tightened, maintained or further eased by Tuesday.

“[T]raders booked some gains for now as they braced themselves for the government’s decision on lockdown measures after June 15… We see how optimistic the market was as the global economy slowly reopened, however, the reaction was way too quick which could really trigger profit taking,” Ms. Alviar said in a text message.

“It doesn’t seem like the market will be able to bounce off 6,130 but instead test the psychological 6,000 level and possibly retest 5,850 if more investors become bearish,” Mr. Lisbona added.

All sectoral indices at the PSE closed in red territory on Monday. Property dropped 187.58 points or 5.71% to 3,093.40; financials fell 72.30 points or 5.59% to 1,218.99; holding firms shaved off 311.33 points or 4.70% to 6,300.53; mining and oil lost 220.25 points or 4.22% to 4,992.28; industrials slid 261.86 points or 3.22% to 7,867.70; and services declined 43.28 points or 2.99% to 1,399.72.

Value turnover increased to P7.76 billion from P7.04 billion in the previous session.

But volume fell to 1 billion issues switching hands from 1.87 billion issues in the last session.

Decliners outnumbered advancers, 178 against 39. Some 29 names ended unchanged.

Foreign investors ended as net sellers, with net outflows growing to P1.18 billion from P63.15 million on Thursday.

Court issues guilty verdict vs journalist critical of Duterte

By Vann Marlo M. Villegas and Charmaine A. Tadalan, Reporters

A PHILIPPINE trial court convicted a journalist critical of President Rodrigo R. Duterte for cyber-libel, a verdict that could lead to six years in jail and one that critics view as a major setback for democratic rights in the country.

In a 37-page decision, Judge Rainelda H. Estacio-Montesa found Maria Ressa, chief executive officer or news website Rappler, Inc. and former researcher Reynaldo Santos, Jr. guilty of violating a law against cyber-libel.

They were sentenced to six months to six years in prison. The judge also ordered them to jointly pay the businessman who sued them P400,000 in moral and exemplary damages. Rappler as a company was cleared.

Global media watchdog Reporters Without Borders on Monday said the twin convictions showed the Philippine justice system’s “lack of independence from the Executive branch.

“This sentence bears the malevolent mark of President Duterte and his desire, by targeting Rappler and the figure of Maria Ressa, to eliminate all criticism whatever the cost,” Daniel Bastard, head of the watchdog’s Asia-Pacific desk said in a statement.

“The subject article was republished with reckless disregard of whether it was false or not,” the court said. “This clearly shows actual malice.”

Ms. Ressa, a former CNN investigative reporter, said Rappler would continue to be better and stronger, adding that “investigative journalism must continue.” “If we fall over we are no longer democracy,” she said at a briefing.

The Justice department in February last year indicted Ms. Ressa for cyber-libel based on a complaint by a businessman over an article published in 2012, months before the cyber-crime law was passed. The journalist has said the allegations were unfounded.

A month later, she got arrested again for allegedly violating the ban on foreign ownership in media.

Rappler, which Mr. Duterte has called a “fake news outlet,” is also appealing last year’s order by the Securities and Exchange Commission to close its operations for violating foreign-equity restrictions in mass media. Ms. Ressa is also facing tax evasion cases.

‘REPRESSION’
The presidential palace said Mr. Duterte did not have a hand in the court ruling. His spokesman Harry L. Roque said the President has always supported press freedom.

“This is not a fight against press freedom, an institution I deeply respect and uphold,” businessman Wilfredo D. Keng, who filed the lawsuit, said in an e-mailed statement. “For years, I have personally suffered from Rappler’s false accusations against me, which have no place in a responsible and free press.”

Rappler had reported that Mr. Keng was the owner of a vehicle used by the late Chief Justice Renato C. Corona — whom the Senate impeached on corruption charges — and that he was involved in illegal activities.

Senators urged the public to speak out against efforts to silence critics, noting that the conviction comes after the government ordered the shutdown of critical media network ABS-CBN Corp.

“Under the current political atmosphere of repression and authoritarianism, it would have been a surprise if Maria and Reynaldo were acquitted,” opposition Senator Francis N. Pangilinan said in a statement.

“The silencing of critics and the attacks on the media have been going on for three years now,” he added.

Vice President Maria Leonor G. Robredo said the verdict was meant to silence those critical of the government. Opposition Senator Risa N. Hontiveros called it a threat to democracy.

Human Rights Watch called the verdict “a devastating blow to media freedom in the Philippines.”

The verdict stemmed from one of several cases that the government of Mr. Duterte had instigated to stifle Rappler’s critical reporting on the government, particularly its “murderous war on drugs” that has killed tens of thousands of people since July 2016, it said.

“The verdict against Maria Ressa highlights the ability of the Philippines’ abusive leader to manipulate the laws to go after critical, well-respected media voices whatever the ultimate cost to the country,” said Phil Robertson, deputy Asia director at Human Rights Watch.

“The Rappler case will reverberate not just in the Philippines, but in many countries that long considered the country a robust environment for media freedom,” he added.

“The trial court decision does have a chilling effect not just on freedom of the press but also on freedom of expression,” Maria Ela L. Atienza, a political science professor at the University of the Philippines-Diliman said in an e-mailed reply to questions.

“It can also be interpreted as a possible overreach of the law given its retroactive application and the wide net it casts on the cyber nature of a publication,” she said.

DoH reports 490 new COVID-19 infections

THE Department of Health (DoH) reported 490 new coronavirus infections on Monday, bringing the total to 26,420.

The death toll rose to 1,098 after 10 more patients died, while 298 more patients have gotten well, bringing the total recoveries to 6,252, it said in a bulletin.

Of the new cases, 348 results were reported in the past three days, while 142 were reported late, DoH said.

The fresh cases included 131 from Metro Manila, 79 from Central Visayas and 138 from the other regions, the Health department said.

The government aims to test 1.5% of the country’s more than 100 million people by next month, Health Undersecretary Maria Rosario S. Vergeire said at a news briefing. The country’s 59 testing laboratories can now test 50,000 samples daily, she added.

She said the agency was trying to address the testing backlog, now down to 500. The agency was also working to address delayed reports.

Turnaround time was now three to five days from five to seven days before, she said.

Ms. Vergeire also said it now takes DoH seven days to validate and verify COVID-19-related deaths from 20 days before.

Emmanuel Baja of the National Institutes of Health and University of the Philippines Manila’s College of Medicine said there were vacancies in the country’s intensive care units and there were enough ventilators.

Mr. Baja also said the lower death rate means health workers know how to manage patients well.

DoH earlier said fewer Filipinos infected with the novel coronavirus were dying compared with the rest of the world.

The Philippines has a fatality rate of about 4% compared with the global average of 5.6%.

Still, the country’s death rate is higher than its Southeast Asian neighbors excluding Indonesia.

In contrast, the United States reached a milestone after its COVID-19 death rate passed 340 per million residents, more than 100 times the rate in China (3.32 per million), according to Time Magazine.

The US has the most coronavirus cases and the most deaths of any country in the world. The two hardest hit states have been New York, which had almost three in 10 US deaths, and New Jersey with one in 10 deaths.

A team of researchers from the University of the Philippines Diliman earlier said infections could reach 40,000 by the end of June.

President Rodrigo R. Duterte was expected yesterday to announce his decision on whether to further ease the lockdown in Manila, the capital and nearby cities.

DoH had been reporting fewer deaths of late.

Ms. Vergeire earlier said most of the reported deaths this month were from the previous months because of late validation.

She said on June 11 DoH had approved the guidelines for expanded targeted testing, which would now cover frontliners in quarantine facilities, village health emergency response teams, prison and jail employees and social workers.

Pregnant women, people who undergo high-risk operations, detainees, institutionalized people, those undergoing dialysis, chemotherapy and radiotherapy and those with immuno-compromised conditions like people with HIV will also be prioritized.

Other frontliners would only be tested if they had close contact with probable and confirmed patients, while those who are at risk of getting the virus would be tested only upon doctors’ recommendations, Ms. Vergeire said.

She also said the test need not be repeated before a patient can be sent home.

The coronavirus has sickened eight million and killed about 436,000 people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization.

About 4.2 million people have recovered from the disease, it said. — Vann Marlo M. Villegas and Gillian M. Cortez

Regional Updates (06/15/20)

Samal mayor says bridge groundbreaking will be in Q4

GROUNDBREAKING for the bridge connecting Samal to mainland Mindanao, supposedly set in July, has been moved to the last quarter of the year, according to the island city’s mayor. “The groundbreaking was moved in the last quarter of this year. In our next meeting, I will ask Director (Allan S.) Borromeo (of the Department of Public Works and Highways Davao Region office) of the exact date,” Mr. Uy said in a virtual briefing last week. Secretary Emmanuel F. Piñol, chair of the Mindanao Development Authority, said the contract negotiation for the detailed engineering design (DED) has recently been concluded. The DED will be funded by the Asian Development Bank (ADB) through the Infrastructure Preparation and Innovation Facility. “The budget at the moment is for the feasibility study and DED, which is not locally sourced but loaned from the ADB,” Mr. Piñol said in a text message. Construction of the almost three-kilometer bridge linking Samal to Davao City is estimated to cost P23 billion, based on a National Economic and Development Authority (NEDA) brief on November 2019. NEDA indicated that the project is targeted for funding under an official development assistance package. Meanwhile, Mr. Uy said other infrastructure projects are expected to start soon after the suspension of construction work during the lockdown from mid-March. Among these are the community fish landing center in Peñaplata and the circumferential road in Talikud, a smaller island off the Samal mainland. — Maya M. Padillo

Nationwide round-up

StaySafe.ph useless without at least half of population registered

MULTISYS Technologies Corp. needs at least half of the Philippines’ 109 million population to register to StaySafe.ph for the platform be fully effective as a health outbreak mitigation system, company Chief Executive Officer David Almirol Jr. said. The StaySafe.ph application, however, has so far only registered more than a million users across the country. “Nahihirapan kami sa registration. Walang silbi ang 1 million na registrants sa StaySafe, kailangan natin kahit man lang sana 50% ng population ng Pilipinas (We’re having difficulties in getting registrants. It’s useless to have just one million registrants, we need at least 50% of the population),” he said in a virtual briefing Monday. StaySafe.ph serves as a digital platform that individuals and local government units can use to report and monitor suspected, probable and confirmed cases of the coronavirus. It is also intended to speed up contact tracing efforts. Mr. Almirol explained that they are experiencing a bottleneck in the implementation at the local level as it requires technical training, which he said may be addressed by conducting a “one-time, big time” technology transfer activity. “What’s important is first, for LGUs (local government units) to be able to input the probable, suspected and confirmed cases; second, for citizens to download the application,” he said in mixed English and Filipino. Multisys was tapped by the government to develop the contact tracing application, which will later be turned over to the Department of Health and will be ran with supervision from the Department of Information and Communications Technology. — Charmaine A. Tadalan

Lawmakers say other media firms not exempt from depositary receipts probe

ALL MEDIA companies offering Philippine Depositary Receipts (PDRs), as in the case of ABS-CBN Corp. which has a pending application for a new congressional franchise, can be subject to investigation, lawmakers in the House of Representatives said. Anakalusugan Party-List Rep. Michael T. Defensor, vice chair of the House committee on good government and public accountability, said ABS-CBN is not being singled out as there are congressmen who have already expressed intent to also look into the PDRs of another broadcast firm, GMA Network, Inc. “I am very happy that some of our colleagues would like to look into GMA. I agree. But let’s not be diverted from the issue. Ang issue po dito (The issue here), was there a violation of ABS-CBN of our Constitution,” Mr. Defensor said in a hearing on Monday. The committee, along with that on legislative franchises, earlier ordered the secretariat to obtain copies of other media companies’ PDRs. The two panels are deliberating whether ABS-CBN violated the Constitution when it sold PDRs to foreigners. A PDR is a security that grants the holder the right to the delivery of sale of the underlying share, according to the Philippine Stock Exchange. Under Philippine law, media companies should be 100% Filipino-owned and managed. The committees are set to meet again on Wednesday to resume its deliberation on ABS-CBN’s franchise. There is no scheduled hearing yet on the PDRs of other media companies. — Genshen L. Espedido

Gov’t aid for OFWs cover less than half of applications


THE GOVERNMENT has released over P1.6 billion in aid to thousands of displaced overseas Filipino workers (OFWs), which covers less than half of the applications filed for the one-time P10,000 cash assistance per worker. Palace Spokesperson Harry L. Roque, in a briefing on Monday, reported that P1.44 billion out of the initial P1.5 billion budget has been distributed to most of the 145,472 approved applications. These approved beneficiaries represent 35% of the total 418,142 applications filed. Under the additional P1 billion fund allocated for the Department of Labor and Employment’s Abot Kamay Ang Pagtulong sa OFWs (AKAP) Program, 45,748 have been approved out of 92,555 applications. Of those approved, 16,230 have so far been paid. — Gillian M. Cortez

SRP pressuring pork producers; more supply cuts expected

THE pork industry blamed the high retail prices of pork on the reduced hog population due to the outbreak of African Swine Fever (ASF) in Luzon since September, and raised the prospect of further supply erosion as producers claim they can’t make money at the current suggested retail price (SRP) settings.

In a mobile phone message Monday, Meat Importers and Traders Association (MITA) President Jesus C. Cham said ASF created scarcity, driving prices up.

“Until ASF is eradicated or a vaccine becomes locally available, pork supply will remain affected,” Mr. Cham said.

As of June 8, the Bureau of Animal Industry (BAI) estimates that 297,287 pigs have been culled as a precaution against ASF.

In a mobile phone message Monday, Pork Producers Federation of the Philippines, Inc. President Edwin G. Chen added that money-losing hog raisers may not be able to recoup their losses because of the price controls.

“Many hog raisers lost money as a result of ASF,” Mr. Chen said.

Mr. Chen said the depleted pork population and the challenge of shipping pigs from the Visayas and Mindanao, have also raised pork prices in Luzon.

In addition, Mr. Chen said the current SRP for pork products leaves no room for hog raisers to make a profit.

As of June 11, the Department of Agriculture (DA) estimates that current retail prices for a kilogram of pork (kasim) are between P210 and P250, well above the SRP of P190, while pork belly (liempo) sells for P240-P280, against an SRP of P225.

“If the DA insists that the SRP for pork remains at P190, the producers would have no choice but to shut down their operations,” Mr. Chen said.

Mr. Chen said that the SRP should be adjusted to around P235 to P245 depending on the farmgate price in the area where the pork was sourced.

Mr. Chen said the current farmgate price for pork in Luzon ranges from P135 to P165 while pork from the Visayas and Mindanao fetches P90-P120.

“We want to increase the SRP because aside from the farmgate price, we need to take into account other expenses such as logistics costs from farm to slaughterhouse, slaughter fees, and government fees,” Mr. Chen said.

According to Mr. Chen, it could take five years for the pork supply to recover and return levels seen before the ASF outbreak.

“Without an ASF vaccine, pork producers will be on a wait and see,” Mr. Chen said.

MITA’s Mr. Cham said high retail prices will continue for some time because supply will take time to rebound.

Mr. Cham said that the DA may have to encourage imports to address rising retail prices, but warned that the commodity could be even more expensive with the approach of the holiday season.

“The pork products ordered from other countries in June only arrive in August, just before the start of ‘ber months’ or the holiday season,” Mr. Cham said.

As of June 7, the BAI estimated that pork imports in the year to date at 91,865 metric tons, 47% lower than the year-earlier total.

In a phone message Wednesday, University of Asia and the Pacific Center for Food and Agri-Business Executive Director Rolando T. Dy said the high price of pork can be traced to lack of production.

“Imports will only augment our pork supply (over) the short term,” Mr. Dy said.

In a virtual address Thursday, Agriculture Secretary William D. Dar said he has received petitions from hog raisers to increase the SRP to bring the retail price more in line with high farmgate prices.

In a phone message Sunday, DA Spokesperson Noel O. Reyes said the DA is currently reviewing the proposal about the SRP and a decision could be made within the week.

Imports of pork and poultry products remain a fraction of domestic production, MITA said.

In a letter sent to Mr. Dar on Monday, MITA’s Mr. Cham said meat imports are a vital source of raw material for meat processors, and are also relied upon by the hospitality and tourism industries.

“Without meat imports such as mechanically deboned meat and pork by-products for processed meat, the country may not have survived the lockdown,” Mr. Cham said. — Revin Mikhael D. Ochave