Price hike for sardines, commodities in Feb. —DTI
‘As much as we want to protect our consumers, we must also look out for the interests of our manufacturers; we don’t want them to terminate people from their jobs. We just have to make sure that there is a win-win situation for both parties.’
Trade Secretary Cristina Roque says some products under basic necessities and prime commodities are set to spike this February, greenlighting some requests from manufacturers who are still reeling from the increase of raw materials in the global market, in a press conference at the DTI office in Makati City on Friday.
Photograph by Raffy Ayeng for the daily tribune
The Department of Trade and Industry has allowed the price increase of some canned sardines, among other products belonging to basic necessities and prime commodities, starting next month, as the agency said it is striking a balance on the welfare of consumers on one hand and manufacturers on the other.
“Of the 217 SKUs (stock keeping units), 72 percent, or 154 SKUs, will have no price increase, while the remaining 28 percent, or 63 SKUs, will have a minimal five to 10 percent price increase. The prices of raw materials have increased, and we also understand the (burden) of manufacturers,” Trade Secretary Christina Roque told reporters on Friday.
“As much as we want to protect our consumers, we must also look out for the interests of our manufacturers,” she stressed.
Roque said some brands of canned sardines will spike by five percent, luncheon meat (five percent), meat loaf (four percent), and vinegar at 2.8 percent, among others.
“The new SRP will be released on 1 February as we are giving manufacturers the time to replace their price tags in the supermarkets,” Roque said.
In protecting manufacturers, Roque said the DTI does not want them to suffer the burden as these traders employ workers.
Win-win situation
“We don’t want them to terminate people from their jobs. We just have to make sure that there is a win-win situation for both parties,” she said.
It was last January 2024 when the DTI released an official SRP listing.
The DTI provides updated SRPs for basic necessities and prime commodities such as, but not limited to, canned and other food products, bottled water, dairy and common household or kitchen supplies.