After many years of stability, prices of pork, sugar, corn, and other agri products are surging. Pork prices have increased not only in the Philippines but also internationally, as shown by the chart above. Corn prices leading the wayWhile most eyes are on pork prices, other agricultural commodities are rallying this year as well. Meanwhile, the ongoing drought in Brazil, a major exporter of corn, sugar, wheat, and soybeans, adds to the supply woes. Source: Bloomberg, Wealth Securities ResearchCompromise pork tariff cutBecause of the high prices and tight supply of pork, the National Economic and Development Authority (NEDA) has pushed for lower pork tariffs and increased minimum access volume (MAV) for imported pork.

Source: Philippine Star May 09, 2021 15:56 UTC