DTI adjusts SRP for coffee, salt
Suggested retail prices (SRP) for certain coffee and salt products have been adjusted moderately, based on the SRP Bulletin released by the Department of Trade and Industry (DTI) on Wednesday, Jan. 17.
The latest SRP Bulletin indicated an initial list of nine stock keeping units (SKUS), comprising three SKUS of coffee and six SKUS of salt, that have adjusted prices.
Three of the coffee SKUS include decreases in weight. Two coffee refill brand items reduced its weight by 2g to 4g and decreased price by ₱1.5 to ₱3.25 from 25g at ₱21.50 last year to 23g at ₱20 this January; and from 50g at ₱43.25 to 46g at ₱40.
A coffee 3-in-1 brand also decreased weight to 18g from 20g, but retained its price at ₱4.10.
Meanwhile, iodized rock salt, iodized salt, and refined salt items saw price increases by a range of ₱0.5 to ₱2.25 in both 250g and 500g variants.
In a TV interview, DTI Assistant Secretary Amanda Nograles of the Consumer Protection Group said they have approved and released the Letters of Concurrence to the manufacturers of the nine SKUS, where the computations for the price adjustments have aligned.
She noted that the coffee and salt SKUS were last adjusted in 2018 and 2022, respectively.
The prices for 154 items or 71 percent of SKUS in the SRP Bulletin remain the same for 2024. This means consumers still have more options considering that 154 or 71 percent of the SKU in the SRP Bulletin have retained their prices.
According to Nograles, 54 notifications for price adjustments are still under assessment, with the final SRP Bulletin to be released this coming March. Approval of price adjustments are done in phases depending on the result of the DTI assessment.
Milk and canned products are included in the pending notices for the price adjustments, she noted, with talks still ongoing with manufacturers. The average price increase is at six percent this year.
She reiterated that only 29 percent of the SKUS in the SRP Bulletin are asking for price adjustments.
Nograles noted that manufacturers have cited increasing prices of raw materials, particularly those that are imported, as the primary reasons for price considerations with the agency.
They have committed to pacing the approval of the price adjustments in order to protect consumers, she added.
DTI reminded the public and establishments that the SRP is applied nationwide for both supermarkets and wet markets.
Consumers are advised to check the weight and price tag of products before purchasing.