DTI greenlights hike in SRP for bread, canned products

• Published date: 09 February 2023
• Publication title: Business Mirror

The Department of Trade and Industry (DTI) has approved the price increase requests of manufacturers of bread, sardines, luncheon meat, based on its latest Suggested Retail Price (SRP) Bulletin.

The DTI uploaded on its website on Wednesday the much-awaited SRP bulletin. Manufacturers have been requesting for the adjustments in the SRP for months. The latest bulletin, however, reflected tempered price increases.

In an interview with reporters on Wednesday, DTI-Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo said Trade Secretary Alfredo E. Pascual opted to approve the price adjustments as the last SRP bulletin was released nearly six months ago.

'This August 2022 suggested retail price bulletin, you would note that almost 6 months na rin yan bago natin i-galaw ulit kaya nag-decide na si Secretary Pascual na igalaw ito because nasa 'danger zone' na rin 'yung mga manufacturers natin,' Castelo said.

''Pag hindi pa natin pinayagan, lugi na sobra sobra at hindi na nila kakayanin so baka magsara or mag-streamline ng production ang mga manufacturers so kailangan po talagang i-galaw this year pero tempered pa rin siya,' she added.

Based on the latest price list, the price of Pinoy Tasty went up by P2 to P40.50 from P38.50 while Pinoy Pandesal (10 pcs/pack) rose by P1.50 to P25 from P23.50 .

Bread manufacturers had initially asked for an increase of P4 last year.

It's worth noting that bread manufacturers initially asked for a P4-increase last year. Philippine Baking Industry Group President Jerry Lao said in October the industry's request for a price increase has been delayed for 'six months already' because, he said, they wanted to help consumers stretch their purchasing power.

Lao said, however, the industry is already feeling...