Manufacturers agree to hold prices of basic goods steady for 30 days
THE Department of Trade and Industry (DTI) said manufacturers of basic goods have agreed to hold prices steady over the next 30 days, even in the face of surging fuel prices.
“Manufacturers of basic necessities and prime commodities have confirmed that they can maintain current prices for the next 30 days, with some able to do so for up to 60 days,” the DTI said in a statement on Tuesday.
The commitments were made during a March 16 meeting of the DTI and 21 manufacturers, including makers of canned sardines, bread, bottled water, instant noodles, coffee, canned meat, toilet soap, and candles.
Citing the manufacturers, the DTI said it expects some price increases for items like canned sardines such as Unipak, 555, Ligo, Lucky 7, Fresca, Morjon, Golden Town, and Mega; bread products such as Pinoy Tasty and Pinoy Pandesal; and bottled water from the Wilkins and Nature’s Spring brands.
No price hikes are expected for toilet and laundry soaps such as Safeguard Pure White, Tide Bar Original Scent, and Green Cross Pure White; condiments such as Datu Puti soy sauce and vinegar, and Lorins Patis; CDO processed canned meat of CDO; and Liwanag candles.
Manufacturers also pledged to maintain prices for 60 days for instant noodle brands like Lucky Me, and Ho-Mi, as well as meat products from Argentina, Lucky 7, 555, Swift Premium, Wow!, and Shanghai.
Price hikes are not expected for instant coffee brands like Kopiko, Nescafé, and San Mig coffee 3-in-1 for the time being, the DTI said.
“We recognize the financial strain faced by consumers while also acknowledging the cost pressures confronting manufacturers,” Trade Secretary Ma. Cristina A. Roque was quoted as saying.
“Our priority remains to ensure fair and reasonable pricing,” she added. — Beatriz Marie D. Cruz
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