DTI: Prices stable on Christmas holidays
Suppliers and manufacturers assured consumers of stable supply and prices of traditional Christmas products until the end of the year.
Trade Undersecretary and consumer protection group head Teodoro Pascua said traders and manufacturers made the assurance during a meeting convened by the agency to check the price and supply situation of the so-called ‘noche buena’ products.
“It’s a good thing that as early as now, we can inform the consumers that they need not worry about the supply of ‘noche buena’ products,” Pascua said.
The Department of Trade and Industry met with the manufacturers and traders in preparation for the upcoming Yuletide season when consumer purchases are expected to rise.
Among the ‘noche buena’ products with suggested retail prices being monitored by the DTI are ham, sandwich spread, mayonnaise, pasta, macaroni, tomato sauce,fruit cocktail/mixed fruits, cream, cheese and queso de bola.
Manufacturers RFM Corp., SYSU International Inc., Dole Food Company Inc., Del Monte Philippines Inc. Century Pacific, New Zealand Creamery, Ideal Macaroni & Spaghetti Factory and Phil. Leading Infinite Logistics agreed to keep prices stable during the holidays despite the depreciation of the peso against the US dollar and the increase in prices of flour which could affect pasta and bread prices.
Several companies, however, expressed concern over the depreciating peso. Two manufacturers of ham reported a price increase of less than 5 percent on their products while a queso de bola maker confirmed a slight increase on prices.
The Trade Department said that in general, there would be no price increases until December for pasta and sauces, cheese ham and canned tuna because of strong brand competition. Othel V. Campos
The department will post the updated SRPs on ‘noche buena’ products by November 2017.