Most manufacturers of basic necessities and prime commodities are keeping prices steady despite some firms requesting adjustments due to rising logistics costs, Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said Wednesday.
“Actually, 68 percent of the products have no price increase. Others have price increases, but very minimal,” Roque told reporters in an interview.
The DTI will release a list of the specific products and brands that requested price hikes. Roque noted that the increases mostly affect certain individual brands rather than entire product categories.
Canned meat products and some processed milk items are among the goods seeking adjustments. However, Roque said milk prices under the government’s suggested retail price list have largely remained unchanged.
“It’s more of the brands. More than the SKUs,” Roque said, adding that the requested price increases for some milk products are below 10 percent.
Canned sardine manufacturers also raised concerns over rising logistics and fuel costs, which affect fishing operations and the transport of raw materials and finished goods.
“Certain brands have requested price increases. You have to understand that when they go to the sea, their vessels use fuel. And when they move their products to the manufacturing plant, they also need fuel,” Roque said.
The DTI is reviewing the petitions for price adjustments and is consulting manufacturers individually before making decisions.
Roque said there have been no discussions so far on proposed price increases for bread and other food staples. She said the government hopes manufacturers will continue to keep prices stable for consumers.
