Commodity manufacturers seek price adjustments

They will release this January 2023 the suggested retail price to update its previous SRP list last August 2022.

Due to rising prices of raw materials, some manufacturers of essential commodities have aired intentions to raise their prices this year, according to Trade Secretary Alfredo Pascual.

The Trade chief last month said they will release this January 2023 the suggested retail price to update its previous SRP list last August 2022.

But until now, the Trade Department is yet to release a new one.

Pascual said they had received a price adjustment notice from the makers of sardines, meatloaf, corned beef, coffee, and soap.

Also, on 13 January, Pascual and Senate Committee on Trade, Commerce and Entrepreneurship, Senator Mark Villar visited some supermarkets in Makati City to ensure prices and supply of processed and agricultural necessities and prime commodities, the accuracy of weights and measures, and appropriate price tags.

They found out that the sold items followed the SRP or were even lower.

Consumer Protection Group Undersecretary Atty. Ruth B. Castelo and FTEB Director Atty. Marimel D. Porciuncula also accompanied Secretary Pascual in inspecting prices, price tags, and weights and measures in Guadalupe.

After surveying prices and supply, Secretary Pascual affirmed that the vendors in Guadalupe Public Market observe accurate weights and measures and appropriate price tags. Meanwhile, the inspected supermarkets within the vicinity conform to the Suggested Retail Prices Bulletin issued by the DTI on 12 August 2022.