The Department of Agriculture (DA) plans to allocate higher pork imports under the Minimum Access Volume (MAV) to meat processors in order to stabilize processed meat prices.
Agriculture Secretary Francisco Tiu Laurel Jr. said a significant portion of the MAV quota will be reserved for DA agencies for market intervention if needed.
In a statement Sunday, he said the "general direction, though not finalized," is to allocate 30,000 metric tons (MT) of the 55,000 MT MAV quota to meat processors, who pay a lower 15 percent tariff compared to the standard 25 percent.
Laurel said the DA intends to retain 15,000 MT, which may be assigned to Food Terminal Inc. and Planters Products Inc., allowing the government to manage prices using the lower MAV tariff.
The remaining 10,000 MT will be equally distributed to traders.
Data from the DA shows pork prices recently surged above P400 per kilogram due to the African Swine Fever outbreak.
The DA recently considered imposing a maximum suggested retail price on pork but delayed the move after meetings with pork industry players, who pledged to lower prices.
Laurel said the final MAV allocation should be set in the coming weeks.