Lower chicken prices expected next month
Posted on January 12th, 2010
A good news, for a breather. Consumers can expect to buy chickens at a lower price next, a supermarket group said, because of the expected increase in supply. From the present suggested retail price (SRP) of P130 per kilo, a five percent reduction will bring it down to P123.50 per kilo, or a savings of P6.50.
Federico Ples, secretary general of the Philippine Association of Supermarket Inc. (PASI), said in an interview, “We expect the price of whole chicken to go down next month because the chicks will be fully grown and ready for sale.”
Presently, Ples said there is a shortage in the supply of whole chicken. But in spite of the limited supply, he said there was no increase in the prices of chicken. “Right now they are only delivering very few chickens. It is lacking but they will be harvesting the fully grown chicken by next month,” he said.
The reduction in the prices of chicken will be gradual, according to Ples. The initial decrease is expected to be five percent by middle of February. He added that there will be more price adjustments later because of abundant supply.
Ples explained that prices of chicken remains stable in the groceries because the suppliers did not increase and still sell at the same price. “Our acquisition cost has not yet gone up and the cost of production remains the same so there I no reason for prices to go up.”
The same goes for all commodities, with the exception of sugar and flour products. Sugar prices have been continuously going up. According to the Sugar Regulatory Authority (SRA), the price may go up to as high as P50 per kilo. Flour millers, on the other hand, said they will increase their prices by P20 per bag.
