By Dean Aubrey Caratiquet
Amid the omnipresent threat posed by inflationary pressures and volatility in the prices of consumer goods on the market, consumers have become increasingly discerning when it comes to spending on commodities.
And with the significant uptick in prices of petroleum products beginning to take its toll on the wallets of Filipinos, it sparked fears among the public following news reports citing plans from the industry requesting an increase in the suggested retail price (SRP) of a 155g can of sardines from P21 to P24 on the heels of rising production costs.
The Department of Trade and Industry (DTI) is well aware of the public’s concerns regarding prices of food products, and has met with canned sardine manufacturers on Monday, June 23, to take control of the situation at hand.
In the dialogue, the stakeholders committed to maintaining the current SRP for canned sardines, a staple in Filipino households.
Trade Secretary Cristina Roque said, “We appreciate the industry’s commitment to the Filipino consumer, especially with the economic pressures families are facing today.”
She added, “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 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.
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