The Department of Trade and Industry’s Consumer Protection Group on Thursday informed consumers of a possible price increase in most pork-based food preparations traditionally served during the Christmas season, particularly those included in the Noche Buena list.
Trade Assistant Secretary Claire Ann Cabochan said the CPG was looking at petitions for price hike to assess how many products would be allowed to adjust their prices in relation to the current state of economy amid the pandemic.
“It’s true that some manufacturers are asking for higher prices on Noche Buena products. Every year they have the same petition. There might be some products that will be allowed to adjust pricing but the DTI will make sure that price increases are within the bounds of fair pricing,” she said.
She added the DTI would continue to safeguard the interest of consumers particularly during the holiday season when prices of goods and commodities traditionally go up due to popular demand.
Among the products that might see upward adjustments in pricing would be ham, tomato sauce, pasta and cream based on requests for price hikes from manufacturers.
The CPG said ham and related products were the most likely to impose upward price adjustments due to the inflationary effect of the African Swine Fever, a lethal animal disease affecting swines, to pork and pork-based products.
The CPG said since there were many ham makers, consumers would have more options from affordable ham brands to premium quality.
Notably, there are 33 ham brands under the DTI SRP list of Noche Buena products. There are also 12 brands of fruit cocktail, 15 cheese brands, 25 brands sandwich spread, 19 mayonnaise brands, 12 keso de bola, 19 pasta or spaghetti brands, 22 elbow and salad macaroni brands, 27 spaghetti sauce brands, 16 tomato sauce brands and 6 creamer brands.
“Last year, the DTI requested manufacturers to hold off price increases since the majority of consumers do not have the purchasing capability to afford any form of price increase. This was like a Christmas wish that the DTI strove real hard to give to consumers,” she added.
She added it would be the Secretary of the Trade Department who would decide, along with CPG, on what products would be accorded price adjustments.
The Department will be releasing the new suggested retail price on Noche Buena products next week.
Cabochan reminded retailers and manufacturers that the SRP on basic necessities and prime commodities should be fully enforced lest they will be charged with profiteering should there be a deviation from the SRP.
