In this file:

 

·         DOF wants pork importation to continue

·         DoF blames pork for inflation blowout, backs more imports

 

 

DOF wants pork importation to continue

 

by Chino S. Leyco, Manila Bulletin (Philippines)

January 13, 2022 

 

The Department of Finance believes the Philippines should continue to import pork as the local hog industry has yet to recover from the African swine (ASF) outbreak.

 

Finance Undersecretary and Chief Economist Gil S. Beltran said on Thursday, Jan. 13, that the country “definitely” needs to import pork to meet the demand and immediately compensate for the shortfall in domestic supply.

 

Beltran said the effects of the ASF still linger, adding that “it will take some time to recover decimated hog populations.”

 

“For perspective, the seasonal peak in pre-ASF hog headcount was 13.1 million in the third quarter of 2018; hog inventory fell to less than 9.9 million as of the end of the third quarter in 2021,” Beltran said...

 

more

https://mb.com.ph/2022/01/13/dof-wants-pork-importation-to-continue/

 

 

DoF blames pork for inflation blowout, backs more imports

 

Jenina P. Ibañez, BusinessWorld (Philippines)

January 13, 2022

 

THE Department of Finance (DoF) said meat prices pushed inflation beyond the government target range in 2021, and pressed for more pork imports and a drawdown of the pork inventory held in cold storage.

 

“The 16.8% meat price inflation last year accounted for 1.1 percentage points (of) the 4.4% overall inflation,” Finance Undersecretary Gil S. Beltran said in an economic bulletin on Thursday.

 

“Had meat price inflation been half as high, the upper level of the 2-4% inflation target range would not have been breached.”

 

Inflation in 2021 averaged 4.5%, against the 2.6% reading in 2020 and exceeding the central bank’s target band.

 

Mr. Beltran said meat price inflation in 2021 was the highest of any major food item since 2012.

 

The lingering effects of African Swine Fever (ASF) have drastically cut the hog population, pressuring pork prices higher, he said.

 

“The Department of Agriculture confirmed the outbreak of ASF in the country in the middle of 2019 but it was in 2021 that the country felt more fully the debilitating effects of the hog infection.”

 

Mr. Beltran said the Philippines will need to continue importing pork to meet demand and compensate for the supply shortfall.

 

Other interventions may include the regular release of pork...

 

more

https://www.bworldonline.com/dof-blames-pork-for-inflation-blowout-backs-more-imports/