President Bongbong Marcos wants authorities to look into areas where there is a recorded increase in prices of eggs.
The announcement was made after his meeting with Department of Agriculture Undersecretary Domingo Panganiban on Tuesday, January 24.
Marcos wanted the DA official to meet with egg producers and traders to know the reason behind the increase despite enough supply in the market. The President also wants to implement interventions to increase agricultural productivity and ensure the availability of nutritious food at affordable prices.
“We determined that the increase in the price of eggs is not commensurate with the increase in production cost,” Marcos said.
“So we will have to have a look to see how to control that because we cannot explain almost one-half of the profit margin that we are seeing. We cannot attribute it to cost,” he added.
As of January 13, medium-sized eggs are priced at P9 each, compared to P6.90 in December 2022.
The Philippine Egg Board Association (PEBA) said that there was low production of eggs due to high production expenses.