New suggested retail prices bulletin draws mixed reactions from manufacturers
INQUIRER FILE PHOTO
The latest suggested retail prices (SRP) bulletin released by the Department of Trade and Industry (DTI) on Wednesday drew mixed sentiments from local manufacturers.
Some sectors were thankful for the price adjustments while others plan to contest what they called were insufficient price increments.
Canned Sardines Association of the Philippines (CSAP) president Francisco Buencamino on Friday told the Inquirer that the price adjustments were insufficient, as they requested a P3 increase but were only granted half.
“That is insufficient because the P3 request was made back in August [of 2022]. The prices of oil, of tin can and even tomato paste have since gone up,” Buencamino said in a phone interview.
“How can we continue if we are operating at a loss?” he asked, saying that the possibility that some canneries may cut back or shut down operations is very real.
Article continues after this advertisement‘Rather than nothing’
Buencamino said they would seek an audience with Trade Secretary Alfredo Pascual upon his return from Japan.
Article continues after this advertisementIn contrast, Philippine Baking Industry Group (PhilBaking) president Jerry Lao said they were thankful for the price adjustment for the Pinoy Tasty and Pinoy Pandesal.
“For our group, we are thankful for the P2 increase for Pinoy Tasty rather than nothing. But we will not stop appealing for the balance of the increase,” Lao said in a text message to the Inquirer.
In the latest SRP bulletin, a 450-gram of Pinoy Tasty saw its price rise from P38.50 to P40.50, while a 10-piece pack of Pinoy Pandesal rose from P23.50 to P25.
Meanwhile, Alaska Milk Corp (AMC) director Maria Angela Esquivel said they were grateful to the DTI for the price adjustments on their products.
However, Esquivel said they were hoping the DTI would not take this long again to publish the next bulletin, saying that the regular SRP publication was critical to the milk company’s business planning.
Sought for comment, Trade Undersecretary Ruth Castelo -who heads the DTI’s consumer protection group- said they understand the manufacturers’ predicament as they are aware of the rising cost of raw materials.
However, Castelo said, the DTI also needed to protect consumers and ensure that basic and essential commodities were available in the market at affordable prices.
“This is the reason we temper price increases,” she said.
