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Sardines, soap, milk SRP rise – DTI

Business | Trade & Industry

Sardines, soap, milk SRP rise – DTI

By Khriscielle Yalao

The Department of Trade and Industry (DTI) announced on Jan. 24 that nine items included in the Suggested Retail Price (SRP) bulletin namely four canned sardines, one powdered milk, and four toilet soap brands have upped their prices.

In a press conference of the National Price Coordinating Council (NPCC) meeting, DTI Assistant Secretary Amanda Nograles of the Consumer Protection Group said the new price adjustments were approved last Jan. 17.

Four out of 15 stock-taking units (SKUs) of canned sardines increased their prices by P2.69 to P2.73.

The price of one out of five SKUs of powdered milk rose by P6.00, and four out of 10 SKUs of toilet soap inched up by P1.50.

Last Jan. 17, DTI released the first official SRP Bulletin for 2024 as of Jan. 12, where three SKUs of coffee and six SKUs of salt moved prices.

Another SRP Bulletin is expected to be released in March, to reflect the complete price adjustments agreed upon and approved by the agency and the manufacturer involved.

The pending requests for the price adjustments from other manufacturers are still in “status quo,” said Nograles, meaning it remains in the process of review.

DTI Secretary Alfredo Pascual noted that, currently, DTI is not the sole agency involved in the vetting process for the price of commodities.

He mentioned other task forces with the Department of Energy (DOE) for liquefied petroleum gas (LPG) products, Department of Agriculture (DA) for some of the prime commodities, and the Department of Justice (DOJ) who enforce anti-competitive actions.

Pascual also said that discussions were also held on the benchmarking of Philippine prices compared to other countries, which will help the country evaluate the price differences and similarities in the region.

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