Rising corn cost jacks up price of meat, poultry products

06.07.2018

Filipino consumers are bracing for higher prices of meat and poultry in the coming days on rising corn prices due to the tightness of local supply. Corn prices in major producing provinces of Bulacan and Isabela are now USD 0.33-0.35/kg from USD 0.24/kg from two months ago. Because of the rising price of corn, the industry is importing feed wheat and corn from Indonesia at a landed cost of USD 0.24- 0.26/kg.

According to Roger Navarro, President of Philmaize Federation Inc. feed wheat importation has been on the rise as unfavourable weather conditions in corn producing provinces resulted in a drop in production. As of last week, the average retail price of chicken is USD 2.99, still stable according to United Broiler Raisers association. Beef rump and beef brisket are at USD 6.08 and USD 5.45/kg, respectively. Meanwhile, pork liempo and pork ham are being sold at an average of USD 4.49 and USD 4.12/kg respectively.


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