The Department of Trade and Industry (DTI) is appealing to manufacturers to postponei or temper , if they cannot absorb, the price increases on basic and prime commodities, according to DTI Undersecretary Ruth Castelo.
Castelo in a radio interview the Consumer Group of DTI has not made any recommendation to adjust the suggested retail prices on the 250 basic and prime commodities.
Castelo said the DTI has received requests for price increases on i canned sardines, instant noodles, coffee milk and canned meat.
But she said DTI is still reviewing and vetting the data submitted by the manufacturers, particularly on the cost of raw materials they import.
“We make detailed computations; for instance, on canned sardines we have to verify exactly how much is the price of the fish (sardines/mackerel) the canners get them from their suppliers,”
Castelo said.
She admitted though that the cost of distribution may go up due to rising fuel prices.
But this component comprises only between 3 and 5 percent of total production.
“If the increase is just 5 to 10 centavos per piece, manufacturers can easily absorb that.
We are using moral suasion to manufacturers for them postpone the increase or if we can negotiate with them to temper the increase, say make it 20 percent instead of 30 percent,” Castelo said. Irma Isip
