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Manila Bulletin devider Trade & Energy devider Basic goods manufacturers seek higher prices

Basic goods manufacturers seek higher prices

Published Jul 5, 2023 10:04 am
Manufacturers of 15 basic goods are asking the Department of Trade and Industry (DTI) for up to 10 percent increase in their suggested retail prices (SRP). The 15 basic goods categories include canned sardines, condensed milk, evaporated milk, powdered milk, coffee refill, coffee 3-in-1, salt, instant noodles, bottled water, meat loaf, beef loaf, corned beef, toilet soap, and battery. These categories comprise a total of 128 shelf keeping units (SKUs) with bottled water having a total of 34, canned sardines with 15, salt with 13, and toilet soap with 10. Trade and Industry Undersecretary Ruth B. Castelo said the reasons for the price hike petition are higher prices of raw materials and packaging. They also cited increases in logistics cost for toll packing. The DTI has already taken up the petition, but no action yet pending further evaluation and cost analysis. The latest SRP Bulletin on basic necessities and prime commodities (BNPCs) by the DTI was issued on February 8, 2023. In June this year, the DTI said that the BNPCs’ monitored prices are within or below the latest SRP Bulletin.

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