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Price increases sought for bread and sardines; DTI says still studying

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<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2081724" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>MANILA – The Department of Trade and Industry (DTI) said Friday it is studying requests made by bread and canned sardines manufacturers for an increase in suggested retail prices (SRP).Assistant Secretary Ann Claire Cabochan of the agency’s Consumer Protection Group said bread makers want a higher SRP to cover the increasing costs of wheat.“Alam naman po natin yung produkto po ng yung wheat, e import po, inaangkat po natin yan sa ibang bansa, atsaka may mga supply chain disruptions, alam naman po natin na the public knows na humihingi yung ating mga bakers ng pagtaas ng kanilang SRP, pinag-aaaralan pa rin yan at this time,” she told TeleRadyo.(We know that wheat is an import, and there have been supply chain disruptions, so the public knows that bakers are already asking for an increase in SRP. We are still studying that at this time.)“Although we note, yung sa aming analysis for instance between last week and this week eh bahagya namang bumaba na po yung presyo ng wheat flour so we’re hoping that it will stabilize o kaya bababa pa lalo para kung sakali hindi naman tayo magtataas muna as of this time,” she added.(Although we note, in our analysis last week and this week, wheat prices have gone down slightly so we’re hoping that it will stabilize or go down so we don&#x27;t have to raise prices at this time.)<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/video/news/06/15/22/bakers-adjust-bread-prices-amid-rising-costs-of-flour">Bakers adjust bread prices amid rising costs of flour</a></li></ul>Sardines manufacturers, meanwhile, already got an increase in their SRP when the DTI last released an SRP bulletin on May 11, said Cabochan.She noted, however, that some manufacturers are still asking for a further increase on the back of increasing costs of fish.“May ilan pong nanghihingi pa rin po ng increase, further increase kasi nga yung cost ng tamban, yung isda na ginagamit, pati yung tin, even in the world market tsaka of course yung transportation cost nag-iiba kasi.”“Pinag-aaralan din po natin yan kasi meron nang nag-increase nung May 11, so tinitingnan namin kung yung mga manufacturers na humingi for the few (stockkeeping units) for sardines ay pwede pa nating bibigyan ng increase,” she explained.(Some are asking for a further increase because the cost of tamban and tin has gone up even in the world market, and of course transportation costs vary. We are studying this because some sardines have increase prices on May 11, so we are checking if some manufacturers asking increases for the few stockkeeping units cn be granted na increase.)<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/03/14/22/sardines-may-rise-soon-but-bread-to-remain-stable-dti">Sardines prices may rise but bread stable for 3 months: DTI</a></li></ul>“Tuloy-tuloy po yung pag-aaral ng DTI, if you remember, May 11 po yung last nating issuance ng SRP list so very recent pa po yung ating SRP bulletin, lahat naman ng mga produkto yon eh there’s 218 stock-keeping units in that bulletin, have considered movements in the prices of raw materials and even yung krudo, ang mga distribution cost,” Cabochan noted.(The DTI is studying the requests for an increase in SRP, if you remember, May 11 was the last time we issued an SRP list, so it is still very recent. All 218 stock-keeping units in that bulletin, have considered movements in the prices of raw materials and even oil and distribution costs.)“Ngayon alam din naman po natin, madaming mga factors na beyond the control of our manufacturers kaya pinag-aaralan po natin yan pero wala pa pong desisyon doon sa request ng increase.”(We know there are factors beyond the control of our manufacturers, so we are studying this, but as of now, we have no decision yet.)The official said they will try to keep the increase in prices of basic goods to a minimum.“Talagang we negotiate na hindi tataas ng even 5 percent, kasi yung gusto po naming increase diyan tinintingnan po namin, we negotiate for it’s usually 2-3 percent.&quot;&quot;Pag medyo mataas and justified naman yung cost ng increase in the SRP, nakikiusap kami sa mga manufacturers na gawing staggard if ever.”(We really negotiate that price hikes won&#x27;t increase by 5 percent, because the price increase acceptable to us is between 2-3 percent. If it&#x27;s higher than that but the price hike is justified, we ask manufacturers to make the price hike staggard.)Inflation spiked to 5.4 percent in May as food and fuel prices continued to rise sharply.<div>--TeleRadyo, 17 June 2022</div><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/07/22/inflation-quickens-further-to-54-percent-in-may">Inflation quickens further to 5.4 percent in May</a></li>	<li><a href="https://news.abs-cbn.com/business/06/03/22/global-food-prices-fall-again-but-wheat-soars">Global food prices fall again but wheat soars</a></li></ul>

The Department of Trade and Industry (DTI) is studying requests made by bread and canned sardines manufacturers for an increase in their suggested retail prices.