Price freeze OK’d? DTI, canned sardines makers disagree

MANILA, Philippines — Manufacturers of basic necessities and prime commodities (BNPCs) have agreed to hold off their price increases for now, according to the Department of Trade and Industry (DTI).

However, sardines manufacturers denied that any agreement was reached.

“At the moment, we are at a standstill, we are not making any adjustments. Based on the report I received, the DTI already announced that we agreed (to postpone the price adjustment). Read between the lines. If the government said we agreed…we don’t need to agree as they can impose it if they want,” Canned Sardines Association of the Philippines executive director Francisco Buencamino noted.

On Thursday, Trade Secretary Alfredo Pascual and other DTI officials met with 29 manufacturers and two associations of canned sardines, coffee, processed milk, bread, salt, detergent, candles, condiments, bottled water, canned meat, toilet soap and batteries.

During the dialogue, manufacturers expressed their concerns about various issues, including the imposition of
pass-through fees; lack of local supply of raw materials; the compliance requirements of other government agencies and other regulatory concerns.

“I think for now we can say the manufacturers are willing to hold off any increase, for as long as they can. It is difficult to say when they will adjust prices, because cost of raw materials and ingredients used are also subject to market forces,” Trade Undersecretary Kim Lokin told reporters in a Viber message.

Latest figures from the DTI showed that as of Sept. 19, 14 manufacturers of 46 Stock Keeping Units covering ten categories of BNPCs requested suggested retail price (SRP) adjustments due to the high cost of major raw materials, packaging materials, fuel