A member of the Department of Trade and Industry (DTI) said that as of Wednesday, the suggested retail price (SRP) for canned sardines were set to P12.80 per 155 gram can.
After imposing a fishing moratorium that successfully replenished sardine stocks off the Zamboanga Peninsula last year, the Department of Agriculture is to close another major fishing ground in the country for three months starting in December to replenish sardine and tuna stocks.
The Department of Trade and Industry is eyeing to reduce the suggested retail price (SRP) for canned sardines to P12.80 per 155-gram can from the current P13 to P13.50.
The price of fresh tamban (sardinella) has taken a dive from a high of P100 per kilo about two months ago to just P45 these days, but fuel and other costs have kept prices of canned sardines still high.
The government has imposed a three-month closed fishing season on sardines to allow to the fish species to spawn.
The Department of Trade and Industry (DTI) is reviewing the prices of tamban, a type of fish used in making canned sardines, to determine whether or not a recent hike in sardine prices was justified. Trade Undersecretary Zenaida Maglaya said the price of tamban that five sardine brands cited in their notice to increase prices [...]
