DTI: No basic goods price hikes until April 30

PRICES OF BASIC necessities and prime commodities will not rise until April 30 after manufacturers agreed to defer adjustments, the Department of Trade and Industry (DTI) said on Wednesday.

“We have enough supply of food,” Trade Secretary Ma. Cristina A. Roque told a news briefing on Wednesday. “[There will be] no price increase for basic necessities and prime commodities [until] April 30.”

Ms. Roque said the assurance followed meetings between the DTI and major food manufacturers, including Universal Robina Corp., San Miguel Food and Beverage, Inc., Nestlé Philippines, Inc. and Century Pacific Food, Inc., among others.

The agency earlier said prices of basic goods would be held steady only until April 16.

“Last Monday, we met with manufacturers and they have assured us that there will be no price increase for basic necessities and prime commodities on the DTI list until end‑April,” Ms. Roque told reporters.

The agency has urged manufacturers and retailers to absorb higher costs as tensions in the Middle East threaten to drive up oil, transport and logistics expenses, placing pressure on production and distribution.

Ms. Roque said consumers do not need to engage in panic-buying, citing adequate supply levels in the short term.

Asked whether prices could rise after April 30, Ms. Roque said discussions with manufacturers would continue. “We’ll have to wait for the manufacturers. We will be meeting again next week,” she said.

The DTI said prices would remain unchanged until April 30 for canned sardines in tomato sauce, luncheon meat, meat loaf, corned beef, beef loaf, vinegar, fish sauce, soy sauce, processed, condensed, evaporated and powdered milk, three‑in‑one coffee, bread, instant noodles and iodized salt.

No price increases are also expected until end‑April for detergent and laundry soap, distilled, purified and mineral water, candles, toilet soap and batteries. — Beatriz Marie D. Cruz