DTI: No price hike for sardines
MANILA, Philippines — Canned sardine manufacturers have assured the public there will be no price increase for now for the household staple.
In a statement yesterday, the Department of Trade and Industry said makers of canned sardines dropped the planned P3 price hike.
Sardine manufacturers held a meeting with Trade Secretary Cristina Roque on Monday.
Present during the meeting were members of the Canned Sardines Association of the Philippines led by Chattrade, Mega Prime Foods Inc., PERMEX, Universal Canning Inc. and Century Pacific Food Inc.
Roque said these firms vowed to maintain the current suggested retail price or SRP for canned sardines.
The meeting was conducted following reports that the industry is seeking a P3 increase in the SRP of a 155-gram can of sardines, citing rising production costs.
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