Philippine pork tariff proposal draws warning over inflation

The British Chamber of Commerce Philippines (BCCP) has opposed a Department of Agriculture proposal to raise pork import duties, warning that it could push inflation higher. Executive Vice Chairman Chris Nelson urged officials to retain current tariffs, with September inflation at 7.2 per cent.

Nelson pointed to a September Pulse Asia survey in which 71 per cent said inflation was not being tackled quickly enough. He also identified peso weakness and a possible further increase in central bank interest rates as near-term challenges.

At an October 12 public hearing held by the Tariff Commission, BCCP backed concerns from the Meat Importers and Traders Association. The chamber said African swine fever continued to affect the domestic pig herd, which had not recovered. It warned that the depleted herd could further hamper government efforts to manage inflationary pressures arising from the Middle East war.

Nelson said BCCP planned to bring its objections to a scheduled meeting with the agriculture department. He said UK pork and beef exports to the Philippines had increased significantly, although Britain was not the largest supplier. The chamber sought unchanged duties to help keep prices lower and supplies steady.