Sardines manufacturers defend petition to increase retail prices
Credit to Author: Bella Cariaso| Date: Sat, 12 Aug 2023 00:00:00 +0800
MANILA, Philippines — Sardines manufacturers yesterday defended moves to increase retail prices of sardines.
In a radio interview, Sardines Canners Association of the Philippines executive director Francisco Buencamino said that the adjustment in retail price of sardines is needed amid the drop in production of tamban used in the manufacture of sardines and the impact of the P40 daily wage increase.
“There is a shortage in the supply of tamban because of the law of delineation of water areas to catch the tamban,” Buencamino said, referring to the Fisheries Code banning commercial fishing vessels within the 15-kilometer radius classified as municipal waters.
Trade and Industry Consumers Protection Group Undersecretary Ruth Castelo has said 13 manufacturers of basic necessities and prime commodities, including canned sardines, are requesting a one percent to five percent price increase or from P0.10 to P7.27.
Buencamino added that based on latest data from the Philippine Statistics Authority for the second quarter of 2023, the production of tamban registered a negative 14 percent growth.
He said that the fuel prices used by commercial vessels also went up. “The canneries are also affected by the minimum wage increase as we are talking here of at least 30,000 workers,” he noted.
According to Buencamino, the cost of imported tin cans used for the manufacture of sardines also increased. “At least 85 percent of the canneries recorded losses as the retail prices of sardines ranged between P18.50 and P22 per kilo,” Buencamino added.
The petition to increase the price of sardines came amid the unabated spike in the retail prices of rice.