Manufacturers of canned sardines have decided to cancel their planned price increase of ₱3, according to the Department of Trade and Industry (DTI).
In a statement released on Tuesday, the DTI reported that Trade Secretary Cristina Roque met with members of the Canned Sardines Association of the Philippines (CSAP)—which includes companies such as Chattrade, Mega Prime Foods Inc., PERMEX, Universal Canning Inc., and Century Pacific Food Inc. (CPFI)—on Monday.
During the meeting, the canned sardine manufacturers assured the DTI that there would be no changes to the prices of their products, alleviating consumer concerns regarding a potential ₱3 price hike on this essential food item. “They committed to maintaining the current suggested retail price for canned sardines, a staple in Filipino households,” the DTI stated.
The dialogue was initiated in response to reports that the industry was considering a request to increase the suggested retail price (SRP) of a 155-gram can of sardines from ₱21 to ₱24, citing rising production costs. Earlier this month, CSAP executive director Francisco Buencamino noted the increase in the price of imported tin sheets due to the weakening peso.
“We appreciate the industry’s commitment to the Filipino consumer, especially with the economic pressures families are facing today,” said Roque.
The DTI clarified that its Fair Trade Group (FTG) had not yet received a formal petition for a price adjustment but initiated the meeting to proactively address the issue. Under the amended Republic Act 7581, or the Price Act, the DTI monitors the prices of canned fish, which are classified as basic necessities.
The DTI also stated that it would continue to closely monitor the market to ensure that prices remain stable and fair.
