Philippines: DA fish import suspension order to raise canned mackerel prices, business executive warns

Published 2024년 4월 4일

Tridge summary

The Department of Agriculture (DA) of the Philippines has temporarily halted the issuance of import clearances for certain fish types like galunggong, mackerel, and bonito to curb their illegal sale in wet markets, potentially affecting canned mackerel supply and prices. An administrative order now permits mackerel imports for canning with a 10% buffer, possibly incurring VAT. This move has sparked concerns among industry representatives about supply impacts and the lack of prior consultation. Meanwhile, the DA and the Department of Trade and Industry (DTI) assure that measures are in place to prevent supply issues, aiming to support local fishermen and manage market supply. Additionally, the National Price Coordinating Council (NPCC) plans to discuss strategies for price stabilization in their upcoming April meeting, indicating a concerted effort to address the situation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

An official of the Canned Sardines Association of the Philippines warned Thursday that prices of canned mackerel may increase following the directive of the Department of Agriculture (DA) to suspend the issuance of import clearances for galunggong or round scad, mackerel, and bonito. The new DA administrative order only allows the importation of mackerel for canning purposes, the volume of which will be based on product sales, which may be subjected to value added tax (VAT), from the previous year with an additional 10% buffer. Agriculture Secretary Francisco Tiu Laurel Jr. said Wednesday the suspension would prevent the illegal diversion of imported fish to wet markets. "Tataas ang presyo pero bababa ang supply (Prices will go up but the supply will drop)," Association Executive Director Francisco told reporters in a phone interview, adding that, "That is the Law of Supply and Demand." Buencamino agreed that the illegal diversion of imported fish to wet markets must be stopped, ...

Source: Gmanetwork