EXCLUSIVE: Sardine maker seeks gov’t help

Notable local and global canned sardine brand, Mega Prime Foods, Inc., is seeking the intervention of the government of a fuel subsidy as they can no longer shoulder the rounds of fuel surges, greatly affecting their production, stating that their stocks now are only good for two weeks.

The reality was far from the pronouncements of President Ferdinand Marcos Jr. and the Department of Trade and Industry (DTI) that food manufacturers have enough inventory of staple canned goods, lasting for a month or two.

In a telephone interview on Friday, Mega Prime Foods’ chief growth and development officer, Marvin Tiu Lim, said they cannot bear the price freeze being requested by the government, as fuel and other raw materials have been hurting their pockets in recent days, deemed doubling in the coming days due to the Middle East conflict.

“We cannot. We only have two weeks’ stock inventory left,” he told the DAILY TRIBUNE, answering the question if they can still cope with the fuel crisis.

Industry players projected that the diesel price range can have P14 to P14.50 per liter spike next week, while gasoline can go as much as P7 to P7.50 per liter, making the retail prices of diesel to as much as P130 per liter, and gasoline to hit P100 per liter mark.

Further, Tiu Lim said their fishermen are having a hard time catching fish because of the cost of fuel used by their hundreds of vessels.

“Fish catch is low also. Diesel is too much, and some fishing companies are stopping operations. We need government support,” he further said.

To date, Mega Prime operates more than 100 deep-sea fishing vessels used to catch sardines and other marine species in the seas of Mindanao, manned by nearly a thousand fishermen.

Despite this, Tiu Lim said they have no concrete plans whether they will raise prices, as their decision “depends on the war.”

He also said their company is not contemplating retrenchment.  

Mega Prime last year said they are investing over P1 billion in capital expenditure for projects that aim to expand into international markets.