BCCP urges MAV quota release to sustain low inflation

The British Chamber of Commerce Philippines (BCCP) has called for the immediate distribution of the Minimum Access Volume (MAV) quota to meat importers following a 2.1 percent inflation rate in February 2025.

While deflation in rice prices contributed to the low inflation, meat prices rose by 8.8 percent. BCCP Executive Chairman Chris Nelson welcomed the inflation decrease but expressed concern over rising food inflation.

Nelson highlighted the Chamber’s focus on managing inflation and ensuring food security, citing challenges like weather disturbances and African Swine Fever. As of 14 February, the Bureau of Animal Industry reported active cases in 10 regions, 19 provinces, 38 municipalities, and 68 barangays.

He also emphasized the importance of Executive Order No. 62, which extends lowered agricultural tariffs until 2028, and thanked Agriculture Secretary Francisco Tiu Laurel Jr. for a scheduled March meeting to discuss agricultural challenges and UK-Philippines cooperation.

“The key here is to keep constant supply. We believe and we support food security and in this context, meat is one of those. We look forward to continuing to help the Philippines with this challenge of working to keep inflation lowered, which gives a lot more flexibility to the government,” Nelson said, noting the possibility of another rate cut by the Bangko Sentral ng Pilipinas.

The Chamber has worked with the UK Agriculture and Horticulture Development Board (AHDB) on trade missions and market visits. UK meat exports to the Philippines rose 2.9 percent in the year ending Q3 2024, totaling £38.9 million. The Philippines remains the second-largest UK pork export market in Asia, after China.