Canned sardine manufacturers have assured the Department of Trade and Industry (DTI) that there will be no movement on the price of their products, putting to rest consumer concerns over a potential P3 price hike on the essential food item.
DTI Secretary Cristina Roque 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).
They committed to maintaining the current suggested retail price (SRP) for canned sardines, a staple in Filipino households.
“We appreciate the industry’s commitment to the Filipino consumer, especially with the economic pressures families are facing today,” 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.”
“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.
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 to P24, citing rising production costs.
“We have not yet received a formal petition for a price adjustment but initiated the meeting to proactively address the issue.”
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.
Under the amended Republic Act No. 7581, or the Price Act, the DTI monitors prices of canned fish, classified as a basic necessity. The Department assured the public that it will continue to keep a close watch on the market to ensure prices remain stable and fair.
