02 Feb 2021
Philippines sets price ceiling for pork, chicken as food inflation soars
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MANILA, Feb 1 (Reuters) – Philippine President Rodrigo Duterte on Monday signed an executive order mandating price ceilings for pork and chicken in the capital region, as costlier meat has propelled food inflation to a double-digit level.
Pork retail prices in the Philippines, the world’s seventh-biggest pork importer before local demand fell due to the coronavirus pandemic, jumped more than 50% in January from a year earlier as African swine fever hit hog farm operations.
The resulting pork supply crunch has also kept prices of chicken elevated as demand increased, despite a domestic oversupply of poultry meat.
Reuters
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