‘GG’ prices to normalize next year – Dar

Department of Agriculture (DA) Secretary William Dar on Tuesday revealed that prices of galunggong – which has soared to as high as P300 per kilo – may normalize by April 2020 once fishing season for the species resumes.

In a statement, Dar explained in the sidelines of his confirmation hearing that the price hike of galunggong can be attributed to the annual closed fishing season imposed against the “poor man’s fish” to ensure that fingerlings would not be caught by fisherfolk.

“By April, it will be open again for capture,” said Dar. “There will be supply, so market laws of supply and demand will apply.”

Previously, the DA earlier imported about 45,000 tons of galunggong to stabilize market prices after the fish was labelled as among the Philippines’ inflation pace-setters in 2018, noting that the demand for galunggong pushed prices up and urged Filipinos to consume other fish varieties.