Sharp Price Rises Prompt Market Inspection
PHILIPPINES - Prices hikes in at least two major wet markets in Quezon City, has promptes the Department of Agriculture Secretary Arthur Yap to personally inspect the situation..
25 January 2008
1 minute read
Reports in the GMA News say that Yap inspected the Mega Q-Mart wet market in Quezon City and found that the price of pork had already risen up to P155 per kilogram. This is a steep P20-increase, while the price of beef, which was previously pegged between P190 to P220 a kilo, had gone as high as P240.
At the Kamuning Market, also in Quezon City, the price of beef increased sharply by P30 and is at P230 a kilo, while pork is being sold at P150 from P140 per kilo.
When asked what prompted them to increase the prices of their meat, the vendors told Yap that the rising petroleum prices in the world market was to blame.
Other vendors also cited the shortage in meat supply and the increasing price of poultry feeds as other factors in the sudden spike of prices of meat.
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