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FTI looks to buy chicken from local farmers amid oversupply

16 January 2019, at 12:00a.m.

PHILIPPINES - State-owned Food Terminal Inc (FTI) is eyeing chicken from local farmers to help the government in addressing an oversupply of the commodity, Agriculture Secretary Emmanuel Piñol said Tuesday

"FTI approached me and they actually want [to] start exercising their mandate of buying produce from farmers," Mr Piñol said in a press conference in Pasay City.

"FTI is willing to buy chicken from farmers at a better farm gate price and then store this at storage facilities of NTA (National Tobacco Administration)," he said.

There is reportedly an oversupply of poultry products in the market.

"The production of poultry is relatively small and coincides with importation of poultry, so there is a problem," Mr Piñol said earlier.

The farm gate price of chicken supposedly dropped to P38.00 (USD$0.73) per kilo. Farm gate price is the value of an agricultural product minus market-related costs, such as transportation.

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