Manufacturers of essential goods and prime commodities have pledged not to raise prices over the next 30 days despite rising oil costs linked to ongoing tensions in the Middle East, the Department of Trade and Industry (DTI) announced Tuesday.
The commitment followed a meeting convened by Trade Secretary Cristina Roque on Monday with more than 21 producers of basic necessities, including canned food, bread, bottled water, instant noodles, coffee, soap, condiments, and candles.
DTI said the move aims to shield consumers from immediate price shocks while closely monitoring developments affecting fuel and commodity costs.
“Batid namin ang pinansyal na hamon na kinakaharap ng mga mamimili, habang nauunawaan din namin ang mga pagtaas ng gastos na hinaharap ng mga manufacturer. Nanatiling prayoridad ng DTI ang tiyakin na patas at makatuwiran ang presyo ng mga produkto,” Roque said in a press release.
Products expected to maintain their prices over the next month include canned sardines such as Unipak, 555, Ligo, Lucky 7, Fresca, Morjon, Golden Town, and Mega, as well as bread products Pinoy Tasty and Pinoy Pandesal.
Bottled water brands Wilkins and Nature’s Spring, hygiene products like Safeguard Pure White, Tide Bar Original Scent, and Green Cross Pure White, condiments including Datu Puti soy sauce and vinegar and Lorins fish sauce, processed canned meats from CDO, and Liwanag candles are also covered.
Several manufacturers committed to longer-term price stability of up to 60 days for selected items, including Lucky Me, Ho-Mi, Argentina, Lucky 7, 555, Swift Premium, Wow!, and Shanghai. Coffee brands Kopiko, Nescafe, and San Mig Coffee 3-in-1, along with Export candles, likewise pledged to keep prices unchanged for now.
The pledge falls under the agency’s Suggested Retail Price (SRP) Bulletin, which currently covers 197 stock keeping units nationwide to ensure fair and reasonable pricing of essential goods.
DTI said it will continue monitoring prices and conducting inspections across the country to ensure SRP compliance, while urging consumers to avoid panic buying, warning that unnecessary bulk purchases could create “artificial” shortages.