Manufacturers seek price increases for basic goods

Manufacturers of canned sardines, coffee, salt, instant noodles and canned meat have submitted requests to the Department of Trade and Industry (DTI) to increase the Suggested Retail Price (SRP) of these basic goods.

DTI Secretary Alfredo E. Pascual said that the manufacturers cited various reasons for asking for price adjustments like the rising costs of raw material inputs.

“The DTI continues to study these requests for validation and comparison with international prices,” he said.

He also emphasized the need to balance the interest of different sectors when they decide on these requests. “We must ensure that Filipino families will have access to affordable basic necessities and price commodities (BNPCS),” Pascual said.

Nonetheless, Pascual emphasized that prices of BNPCS listed in the SRP Bulletin the agency issued in February this year still remain valid and in force until a new bulletin is published.

The DTI, as mandated by Republic Act No. 7581 or the Price Act, as amended, issues the SRP Bulletin of BNPCS under its jurisdiction for the information and guidance of manufacturers, distributors, and consumers.

The SRP Bulletin is a list of BNPCS that DTI monitors as their prices are subject to price ranges. A BNPC manufacturer must notify the DTI if they need to raise prices.

Meanwhile, DTI Consumer Protection Group (CPG) Undersecretary Atty. Ruth Castelo said that, “We carefully review the documents provided by the manufacturers as we have our own study and reliable references on the global prices of raw materials that allows us to determine the reasonableness of the requests.”

“The DTI is in constant communication with BNPC manufacturers to ensure reasonable prices and stable supply of commodities,” she added.

Consumers are enjoined to report retailers, distributors, and manufacturers that sell basic necessities and prime commodities above their SRPS via ONE-DTI (1384) Hotline or email, Consumercare@dti.gov.ph.