THE prices of manufactured items such as canned goods, processed foods, drinks, and others may go up due to the big-time hike in fuel prices this week, a group of supermarket owners said.
This is because the fuel price increase will also drive up the distribution cost, the Philippine Amalgamated Supermarkets Association said.
“Ipapasa sa amin ng distributor kung sino man ang nag-deliver sa amin, supplier namin. And then we’ll have to pass on to consumers,” the association’s president Steven Cua said, according to a report on Unang Balita yesterday.
It would be up to the supermarkets however to determine how much the price increase would be.
Today, June 24, a big-time price hike in fuel products is expected due to the effect of the Middle East tensions in the world market.
Last week, makers of canned sardines sought an upward adjustment in the prices of their products due to the rise in the price of imported tin sheets resulting from the weakening peso.
Canned Sardines Association of the Philippines executive director Francisco Buencamino said the group has appealed to the Department of Trade and Industry (DTI) for a P3 hike in their products’ suggested retail price (SRP).
“Right now, most of our SRP products are P21… Ang request namin ay itaas sa P24,” Buencamino said.
He said canned sardine manufacturers are reeling from the high cost of tin sheets.
“These are imported materials. Habang humihina ang presyo against the dollar, nagmamahal,” he said.
If the SRP hike will not be granted, Buencamino said, “You will see lesser number of brands in the SRP level.” (GMA Integrated News)
