Food manufacturers hold off price hikes
MANILA, Philippines - After oil firms spared Luzon from price spikes in diesel, gasoline and kerosene, the Department of Trade and Industry (DTI) has obtained the assurance of sardines and noodle manufacturers that they will not increase prices from now until the end of the year.
Trade Secretary Gregory Domingo met with manufacturers this morning to ensure there is enough supply of basic goods after much of Luzon was battered by the southwest monsoon and "Maring."
Aside from the assurance of ample supply, manufacturers assured Domingo of stable prices.
Even bread manufacturers told the Trade Secretary that prices of Pinoy Pandesal, Pinoy Tasty and other bread products are not increasing anytime soon, contrary to what other bakers groups have threatened a few weeks back.
ABS-CBN was able to confirm with all the major bakers that there is indeed no more price increase planned for Pinoy Tasty and Pinoy Pandesal.
The groups said the millers' group, led by Ric Pinca, has assured the availability of flour priced at P750 a sack, which will allow them to make Pinoy Pandesal and Pinoy Tasty.
The industry is already making improvements in the formulation of "Arinang Pinoy" so that it can replace commercial flour and Turkish flour.
Meanwhile, Domingo clarified, contrary to common belief, fresh agricultural products are included in the price freeze for calamity stricken areas. These include fresh fish, vegetables, chicken, pork and beef.
According to Domingo, he understands the nature of these agricultural products, that these are ordered and delivered almost daily.
Domingo said the DTI will study an amendment to the Price Act, if these can be excluded from items affected by a price freeze. A proposed bill that will include bottled water and LPG in the list of basic goods can also be used to also exclude fresh agricultural products from the price freeze.