Sardine prices seen to increase

The Department of Trade and Industry (DTI) is planning to release a new suggested retail price (SRP) list this month following a request from sardine makers to increase prices.

Following a recent meeting of the National Price Coordinating Council, Trade Secretary Ramon Lopez told reporters that the agency would be issuing a new SRP list this month.

“We are receiving requests for price increase on sardines because their input has increased. We’ll consider a few brands, but not all brands,” Lopez said, adding that some sardine makers are asking to be allowed to raise prices by 25 to 50 centavos.

The SRP for 155-gram canned sardines is at P13.25 to P17.60.

Canned sardines are among the basic necessities on the DTI’s SRP list or price guide.

Other basic necessities covered by the SRP list are milk, coffee, bread, instant noodles, salt, detergent soap, bottled water and candles.

Meanwhile, counted as prime commodities are luncheon meat, meat loaf, corned beef, beef loaf, condiments like vinegar, patis (fish sauce) and soy sauce as well as toilet soap and batteries.

Lopez said the government is currently monitoring the impact of the El Niño phenomenon on the prices of goods, particularly agricultural products.

Based on the latest report received by the DTI, he said prices of agricultural products such as rice, sugar, chicken and liempo (pork belly) are still stable.

For sugar, which is available at P2,200 per 50-kilogram bag, Lopez said the government is hopeful of seeing the price drop to P2,000, given the stable supply.