THE Department of Trade and Industry (DTI) said price increases for basic goods and prime commodities for the rest of 2023 are unlikely despite dozens of pending requests from the manufacturing sector.
DTI Assistant Secretary for Consumer Protection Group Amanda Nograles on Thursday, Nov. 23, said that there are 18 manufacturers seeking price hikes for 63 products or stock-keeping units. These include different brands of canned sardines and meat, coffee, processed milk, bread, instant noodles, bottled water, condiments, toilet soaps, and batteries.
But Nograles said these manufacturers have already agreed to hold off on raising prices until the end of the year.
“With the personal appeal made by Secretary (Alfredo) Pascual, the manufacturers have agreed not to raise their prices until December, so maaasahan natin ‘yung commitment na ‘yun. (‘Yung) isa pa nga po ay nag-withdraw ng standing request nila for the price adjustment,” she said.
But Nograles said that they would look for ways to help manufacturers bring down their production and operating costs.
“For example, the DTI has supported the passage of Executive Order 41 or the suspension of the collection of the pass-through fees. Malaking tulong ‘yan sa mga manufacturers natin na makababa ng operating cost nila,” she noted.
The Canned Sardines Association of the Philippines (CSAP), for its part, said that it would not pursue its petition for a price hike this year.
But CSAP executive director Francisco Buencamino said they would definitely submit another petition by 2024.
“Because we were not granted any adjustments. There was a disconnect between what was happening in the market and what the SRP (suggested retail price was intending. One example is one brand is already selling at P21 something. Lumabas ‘yung SRP, P18, P3 lower. So papaano niya babawiin ‘yun ngayon?” he said.
Meanwhile, a group of supermarket operators also does not foresee any more price hikes this year since doing so could put them at risk of losing customers, Philippine Amalgamated Supermarkets Association President Steven Cua said.
“They run the risk of losing out in terms of sales, ‘di ba? If people say, ang laki ng tinaas nito ah, halatang-halata, I’ll shift to another brand,” said Cua.
Meanwhile, the DTI also said they would make sure to space out possible price increases next year.
“We understand the concern na baka mabigla after Dec. 31, 2023, sabay-sabay. Sana ‘wag naman po kaya the DTI is always here to keep talking to (manufacturers) kung paano ‘yung transition period for all the price increases,” she said. (ABS-CBN News)
