Makers of canned sardines are seeking a P3 price adjustment on their products owing to the increase in diesel prices, the weakening of the peso, and the rise in the price of imported tin sheets used in making cans.
Francisco Buencamino, Canned Sardines Manufacturers Association of the Philippines executive director, said they welcome the Department of Trade and Industry’s (DTI) statement that it is carefully evaluating the request of several manufacturers of canned goods and bread products for a price increase.
These makers of sardines, canned meat, coffee, and evaporated milk will seek to increase prices from 50 centavos to five pesos, the DTI said in a statement Friday, adding it is waiting for the documents from these firms to justify the price increases.
“It’s good to hear that the matter is being studied because we have been seeking price adjustment for a long time and what we are requesting is only for SRP products,” Buencamino said in an interview on Dobol B sa News TV on Saturday.
He explained that canned sardine makers “are forced to surrender tothe $1 to P59 peso-to-dollar conversion rate” when it comes to importing tin sheets.
The weaker peso also caused the price of diesel used to fuel commercial fishing vessels to go up, the makers’ group official added.
“The price of fish increased because diesel is the fuel used to power small boats and commercial fishing vessels,” Buencamino said.
Undersecretary Ruth Castelo said the DTI is requesting all data from manufacturers to ensure that the prices are right and reasonable for our consumers.
Noche Buena item prices would also likely increase since these products are not considered essential items and the Christmas season is coming, Castelo added.
The department would release a new suggested retail price guide in the following weeks.
“We’re hoping to limit the price increases [on Noche Buena items]. If they do increase prices, hopefully not more than 10%,” Castelo said.
The Philippine Amalgamated Supermarkets Association Inc. (PASAI) ALSO advised the public to use affordable goods during the coming holidays.
“They could also have a staggered (price increase). It could be 2% now, another 6% next time. Buy something which is affordable,” PASAI President Steven Cua told consumers.
