PORK PRICES EXPECTED TO DECLINE

Pork prices are seen to decline in less than a month with a zero-interest free loan that the government has offered to members of market vendors associations in Metro Manila public markets.

Each market group will be given P5 million in interest-free loan so that the pork vendors can go directly to the hog raisers and farmers' cooperatives and associations and thereby skip the wholesalers so they can offer lower prices to the public.

The financing scheme was unveiled by Agriculture Secretary William Dar who is "initiating this market vendors’ financing program to institutionalize mutual partnership between them and FCAs, and create a ‘win-win’ situation benefiting producers, retailers and consumers alike.”

The DA is also seeking their cooperation to ease up the tight hog supply situation and temper high pork prices in Metro Manila.

Under the market vendors’ financing program to be administered by the DA’s Agricultural Credit and Policy Council (ACPC), market vendors’ associations or MVAs may avail of up to P5 million as working capital at zero-interest and payable in three to five years.

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