Chicken prices rise in Manila amid hot weather
The Department of Agriculture has confirmed the price uptick, explaining that the harvest and sizes of chickens were affected by the heatwave.
But Agriculture Undersecretary Jose Reaño said prices would go down in two to three weeks when additional supply came into the market off the back of recent cooler weather.
Based on figures from Manila’s Bureau of Agricultural Statistics, chicken retail prices currently range from as high as Ps150/kg to as low as Ps125/kg. But the prevailing price is still Ps135, which is also the suggested retail price of chicken.
In Manila’s Mega Q-Mart public market, the retail price is currently Ps150/kg, despite dealers pricing their chicken at Ps130-Ps138, accounting for vendors’ mark-ups.
Reaño said chicken prices also fell in the last financial quarter as a result of a projected increase in supply, notwithstanding imports from the US.