Milk, canned items up for new mark-up
A total of 33 basic necessities and prime commodities (BNPC) —including milk and canned goods such as sardines and meatloaf —are included in the price increase request list owing to rising fuel prices caused by the Ukraine-Russia conflict, Trade Secretary Ramon Lopez said Sunday.
In a Super Radyo dzBB interview regarding the effects of the war in Ukraine, Lopez said: “We have already seen price adjustments.
Groceries and supermarkets have also reported price increases among items not covered by the BNPC.”
“Prices of products under the BNPC have no adjustments yet since the Ukraine war broke out. There are 33 products listed in the request for price adjustments, which the DTI (Department of Trade and Industry) is studying,” he added.
Diesel prices are expected to climb by as much as P8.30 per liter by Tuesday, the 12th weekly upward adjustment in 13 weeks. Industry sources said kerosene prices will also hike by as much as P8.15 per liter, and gasoline is projected to rise by P2.90 to P3.10 per liter, Unioil said in its weekly forecast.
The spiraling fuel prices are already showing in the prices of basic goods in wet markets in Metro Manila, with an ABS-CBN report indicating that fish and vegetable costs went up by P10 to P40 per kilo at the Mega Q Mart in Quezon City.
Vendors at local markets also said prices were inflated by a lack of supply from the provinces, especially from Benguet, as truckers have limited their trips to Manila owing to the runaway fuel costs.
They said the price of carrots is now at P60 per kilo from P50, cabbage at the same price, and tomatoes at P100 from P60, the ABS-CBN report added.
Lopez, meanwhile, said the BNP prices are now being looked at by the DTI’s Consumer Protection Group to determine the cost adjustments.
In January, the DTI provided an updated suggested retail prices (SRP) list for BNPCs such as canned food and other food products, bottled water, dairy, and common household or kitchen supplies.
“We are not removing our SRP system as it guides us especially on basic necessities and prime commodities. That is being monitored.
Before the manufacturers can increase their prices, they first need to go through the DTI to see how much they are allowed,” Lopez said.
Earlier, Trade Assistant Secretary Ann Cabochan said the department is not keen on freezing prices on basic necessities, as Republic Act No. 7581 or the Price Act has mechanisms in place for mandating so.
The Department of Agriculture warned earlier in the year of rising food prices amid reports of further chokepoints in the global supply chain that lead to upward pressures on production costs.
“The agriculture sector this year will confront global challenges, such as other countries stockpiling fertilizers and fuel prices going up. Our country will have to contend with rising consumer prices, as the rest of the world, even developed countries, is doing,” said Agriculture Secretary William Dar.
Dar said the DA recognized the urgency brought about by the COVID-19 pandemic and vowed to speed up the enforcement of more local balanced measures to ensure affordability for food consumers.
The DA noted that global food prices reached record highs during the pandemic, with the United Nations Index revealing a 28-percent rise, from grains to meat, in the last two years. Record levels of food inflation were last seen in 2011.
Labor shortages in transport and high freight costs also grounded goods, especially during the recent surges in COVID-19 infections in most countries.
