DTI: No price increase for basic goods over next 30 days
MANILA, Philippines – The Department of Trade and Industry (DTI) said prices of basic goods will not increase for at least the next 30 days, after securing commitments from manufacturers to hold prices steady despite supply concerns stemming from the Middle East conflict.
In a statement Tuesday, the DTI said it reached the agreement during a meeting with 21 manufacturers on Monday, covering key items such as canned sardines, bread, bottled water, instant noodles, coffee, canned meat, soap and candles.
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Manufacturers committed to keep prices unchanged for 30 days for the following products:
- Canned sardines such as Unipak, 555, Ligo, Lucky 7, Fresca, Morjon, Golden Town and Mega;
- bread products such as Pinoy Tasty and Pinoy Pandesal;
- bottled water such as Wilkins and Nature’s Spring;
- toilet and laundry soaps such as Safeguard Pure White, Tide Bar Original Scent and Green Cross Pure White;
- condiments such as Datu Puti’s soy sauce and vinegar and Lorins’ Patis;
- processed canned meat of CDO; and
- candles from Liwanag.
Meanwhile, manufacturers of Lucky Me, Ho-Mi, Argentina, Lucky 7, 555, Swift Premium, Wow! and Shanghai pledged to keep prices steady for up to 60 days.
Some brands, including Kopiko, Nescafe, San Mig Coffee 3-in-1 and Export candles, also committed to maintain current prices “for the time being,” the DTI said.
Prior to the meeting, Trade Secretary Cristina Roque said she had also consulted logistics firms to assess the impact of the Middle East conflict on supply chains.
Roque said the DTI would continue working to ensure reasonable pricing amid the crisis.
“We recognize the financial strain faced by consumers while also acknowledging the cost pressures confronting manufacturers,” she said. “Our priority remains to ensure fair and reasonable pricing.”
