Update on Bread, Sardines Manufacturers SRP
BREAD, SARDINES – Some of the manufacturers of these products request a price increase on their SRP to the Department of Trade and Industry (DTI).
The Filipinos are currently facing several financial challenges. Truth be told that many households have yet to recover from the impacts of the pandemic when the oil prices started taking an upward trend. It was in January when a series of oil price hikes began.
There were instances of price rollbacks in oil but they are usually way lesser compared to price hikes. The series of increases in oil prices led the prices of diesel and gasoline to hit more than P90 per liter. Transport groups are now calling for an increase in the minimum jeepney fare.
According to some drivers of public utility vehicles (PUVs), they can hardly earn an amount that could provide for their families’ needs due to the high fuel prices. It is aside from the high prices of some basic goods and commodities in the country.
Recently, the manufacturers of bread and sardines also requested an increase in the Standard Retail Price (SRP) allowed by the Department of Trade and Industry (DTI). Based on a report on ABS-CBN News, the manufacturers of sardines cited the increasing costs of fish as the reason behind their request.
DTI has previously allowed an increase in the SRP of sardines. According to some manufacturers, there is now a high cost in the fish used in producing sardines and as well as the tin can that is used as the containers.
With regards to the request for an increase in the SRP of bread, based on the report, the manufacturers cited the high costs of wheat. According to DTI, they are already studying the requests and they are hoping that the prices of wheat which went down last week will stabilize or will go down further so the increase may not be necessary anymore. More updates may be posted soon.
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