Sardine canners raise prices by up to P1

MANILA, Philippines - Prices of some sardine brands have gone up this month by as much as P1.00 per can due to the shortage in mackerel and other fish used in sardines, the Department of Trade and Industry (DTI) said yesterday.

In a press conference, Trade and Industry Secretary Gregory L. Domingo said the reason for the price adjustment is the limited supply of fish as a result of the fishing ban imposed by the government. The ban is expected to be lifted Feb. 15.

Those that increased their price were 555 sardines, their price increased to P13.50 per can from P12.80 per can. For Master sardines, the price went up to P13.50 per can from P12.50 per can, while Family sardines now retails for P13 per can from P12 per can.

In a separate interview, DTI Undersecretary for Consumer Welfare Zenaida C. Maglaya said they allowed the adjustment in the SRP because these firms said their costs went up as a result of the fishing ban. Maglaya said the increase also includes the higher price of other inputs such as fuel.

When asked if the DTI expect the sardine manufacturers to lower their prices or bring back their original prices once the fishing ban ends, Maglaya said they would have to ask the company. “Come March, the effects of the lifting of the ban should have been felt already so we will ask them,” Maglaya told reporters.

Maglaya said these sardine makers have been asking for a price adjustment since September, but they were unable to provide their costings to justify the increase. Finally, Maglaya said they asked for the acquisition cost of the fish and they based their decision to allow the DTI based price adjustment on the acquisition cost.