Noche Buena products manufacturers are seeking as much 3 percent increase in their suggested retail prices (SRP) due to increased cost of production.
Trade and Industry Secretary Ramon M. Lopez said the Noche Buena products manufacturers have requested for SRP adjustments of 1 to 3 percent. Lopez said these producers normally asked for price adjustments around this time of the year to cover for higher cost of production.
“The DTI Consumer Protection Group is currently studying the petition,” he said noting that if the price hikes are reasonable, they may be granted if not they are going to reduce the rate of their requested price hike. The list includes products such as ham, fruit cocktail, cheese, sandwich spread, mayonnaise and keso de bola. Also included are spaghetti, macaroni, spaghetti sauce, tomato sauce and creamer.
Based on the DTI experience, however, out of the 20 brands only 5 have been requesting for price hikes. The SRP price hikes involved canned sardines and canned meat products.
“At the end of the day our consumers are advised to select the products that — the brand that we can consider value for money,” he said urging shoppers to choose brands that did not raise their prices and those that give bundling promo during the Christmas season.
He said that DTI is closely watching the list of basic commodities and necessities products so that their SRP will not increase, but those that are not in the list are open to price adjustment.
Meantime, Lopez said that as much as 95 percent of sectors are already opened and are technically allowed to operate. Most of the services sectors have been opened by as much as 100 percent from 50 percent.
But DTI is still encouraging companies to continue the work from home arrangements to avoid crowding out in public transportation.
In addition, the DTI has also encouraged companies to allow various staggered work shifts. Companies may allow workers to report at 7 or 8, 9, 10 and 12 noon so there is less traffic and less people at work places. He said the DTI is expected to issue a memorandum circular to this effect soon.
Mallwide sale has also been allowed to encourage people to go out because mall traffic has remained small. All these are important to perk up the economy even if the status is still under the general community level.
He said there is no need to wait for the modified GCQ for these establishments to open except for those under the category 4 like cinemas and concerts.
Lopez reiterated the need to reopen businesses because of the high incidence of hunger and poverty in the country. He also noted of the lower numbers of COVID cases in the country.
In addition, companies are mandated to strictly implement minimum health protocols, particularly the wearing of face masks and face shields.