Sardines manufacturers not hiking prices

Sardines manufacturers will not press for additional price increases toward the end of the year despite increases in fuel costs, the Canned Sardines Association of the Philippines (CSAP) said.

CSAP executive director Bombit Buencamino said manufacturers have temporarily stopped operations ahead of the closed season for sardines fishing, due to bad catch and lack of sardines in the commercial fishing grounds.

“They (manufacturers) decided to sit this one out until the closed season is over. We are already losing and the closed season will provide a reprieve to operation costs and other expenses. And it’s the wrong time for us to push for an increase because we do not know how much fuel will cost in December or in the next few months,” he said.

He added that the government is yet to act on their January 2023 petition for a P3 increase per can/unit and the recent spikes in fuel prices will serve to add to the much sought after price adjustment.

“We’re stuck with the (current) prices. And it’s really unfair for (Alfredo) Pascual to say hold down. I told him I will make him look good by not asking for the any increase, for now, after all, he is just looking for some brownie points from the public, “ he said.

CSAP, he added, will update its petition for price adjustment in the first quarter of 2024, as soon as the closed season for sardines is over.

In 2023, the 3-months closed sardine fishing season will start on November 15, 2023 until February 15, 2024 to manage commercial haul and allow the specie to repopulate. The close season is enforced in the East-Sulu Sea, Basilan Strait, and Sibuguey Bay. In the past years, the closed season for sardines starts every November 30 to end February of the following year.

Buencamino said manufacturers are absorbing all the added cost on fuel price adjustments and the rising cost of imported raw materials like tin which is used as packaging and tomato paste.

So far, about 13 manufacturers of basic necessities and prime commodities (BNPCs) have submitted petitions for price increases on 43 stock keeping units (SKUs), to the DTI.

Price petitions for food products range from P0.10 to P7.27 or about 1 to 5 percent increase while