DTI, DA to impose SRP on chicken, pork
The Department of Trade and Industry (DTI) and the Department of Agriculture (DA) are imposing suggested retail prices (SRP) on chicken and pork in a bid to stabilize prices of agricultural commodi es in the market.
Trade Undersecretary for Consumer Protec on Ruth Castelo said yesterday the DTI and DA will sign an agreement on imposing SRPs on the said agricultural products.
“The joint memorandum circular will be signed today [Tuesday] by the DA and DTI to put SRP on pork and chicken,” Castelo told reporters on the sidelines of dialogue on Na onal Quality Infrastructure in Pasay City.
The Trade official said pu'ng SRP on pork and chicken is pursuant to Memorandum Order No. 26 released by the Palace on September 21 for the DTI and DA to adopt measures to reduce the gap between farmgate prices and retail prices of agricultural products.
“We have known the farmgate price of these products and we know how much profit margin should be placed on top of the farmgate price,” Castelo said.
The SRP will be computed as farmgate price plus profit margin.
“For chicken, the farmgate price plus P50 margin ‐ these would include the cost of trading, dressing, and retailers markup so if farmgate price is P75 for chicken in the market should only be around P120 to P125,” Castelo said.
“For pork, it’s P70 profit margin that will include the trader’s fee, slaughtering fee, and the retail fee. If farmgate price of pork is P130 so P200 lang ang SRP except for prime cuts like liempo and tender loin that will be 220,” she said.
Once the SRP is in place, retailers cannot sell pork and chicken above the suggested prices.
“DTI will be very strict on ensuring compliance to this,” Castelo said.
“Itong SRP na ito ang magiging basis ng government para manghuli ng profiteering,” she added.
Among the consequences for profiteers include the revoca on of business permit, a fine ranging from P1,000 to P2 million, and imprisonment, the DTI official said.
The DTI will announce the SRP on chicken every three days while for pork it will announce weekly.
“So it will be a moving suggested retail price,” Castelo said.
A market vendor attends to her meat stall in Manila.