Canned sardine makers say no price increase

In response to the request of the Department of Trade and Industry (DTI), canned sardine manufacturers in the country on Tuesday assured that there would be no price hike for now on their products.

This assurance came amid their earlier proposal for a P3.00 increase on the essential food item.

According to Trade Secretary Cristina Roque, she met with members of the Canned Sardines Association of the Philippines (CSAP), led by Chattrade, Mega Prime Foods Inc., PERMEX, Universal Canning Inc., and Century Pacific Food Inc. (CPFI), on Monday.

She said these companies committed to maintaining the current suggested retail price (SRP) for canned sardines, a staple in Filipino households.

The dialogue was prompted by news reports that the industry was planning to request an increase in the SRP of a 155g can of sardines from P21.00 to P24.00, citing rising production costs.

“We appreciate the industry’s commitment to the Filipino consumer, especially with the economic pressures families are facing today,” Secretary Roque said.

“Their decision not to increase prices supports President Ferdinand R. Marcos Jr.’s directive to keep basic goods affordable and ease the daily burden on consumers,” the trade chief added.

Moreover, the DTI, through its Fair Trade Group (FTG), confirmed that it had not yet received a formal petition for a price adjustment but initiated the meeting to proactively address the issue.

The DTI monitors prices of canned fish, classified as a basic necessity under the amended Republic Act No. 7581, or the Price Act.

The Department assured the public that it will continue to keep a close watch on the market to ensure prices remain stable and fair.