Manufacturers of canned sardines are seeking a P3 price adjustment on their products due to the increase in diesel prices, weakening of the peso, and rise in the price of imported tin sheets used in making cans.
In an interview on Dobol B sa News TV on Saturday, Canned Sardines Manufacturers Association of the Philippines executive director Francisco Buencamino said the group welcomes the Department of Trade and Industry’s (DTI) statement that it is carefully evaluating the request of several manufacturers of canned goods and bread products for a price increase.
“Mabuti naman at napag-aaralan na nila dahil matagal na po ‘yang hinihiling na adjustment sa price pero ang aming hinihiling ay doon sa mga SRP (suggested retail price) products,” Buencamino said.
(It’s good to hear that the matter is being studied because we have been seeking price adjustment for a long time and what we are requesting is only for SRP products.)
Canned goods makers are seeking a price hike on their products following the increase in prices of ingredients and raw materials used in their production.
Asked how much price increase was petitioned by canned sardines makers, Buencamino said, “Tatlong piso” (three pesos).
He explained that canned sardines makers “are forced to surrender to the $1:P59 peso to dollar conversion rate” when it comes to importing tin sheets.
Moreover, he said, the weaker peso also caused the price of diesel used to fuel commercial fishing vessels to go up.
“Ang nagpataas talaga ng presyo…tumaas ang presyo ng isda dahil sa diesel ang ginagamit sa motor banca at commercial fishing vessels,” Buencamino said.
(The price of fish increased because diesel is the fuel used to power small boats and commercial fishing vessels.)
The DTI has said that it is requesting all data from manufacturers to ensure that the prices are right and reasonable for our consumers.
