The Manila Times
MANUFACTURERS have pledged not to raise the prices of basic necessities and prime commodities until April 16, the DTI said in a statement on Saturday. “This assurance follows the DTI’s meeting with major manufacturers and retailers to hold off on price increases until April 16, 2026, ensuring stability for Filipino consumers amid the ongoing Middle East tensions,” the DTI said. Trade Secretary Cristina Roque had a virtual meeting with the manufacturers on March 28. Among them were Milk Corporation, Chattrade Enterprises, Commonwealth Foods Inc., Century Pacific Food Inc. (CPFI), Ecossential Foods Corp., Sevilla Candle Factory Inc., Lorenzana Food Corp., Monde Nissin, Nestle Philippines, Procter & Gamble Philippines Inc., San Miguel Foods, Slord Development Corp., Unilever Philippines Inc., Universal Canning Inc., Universal Robina Corp., Virginia Food Inc., Wellmade Manufacturing Corp., and a representative from the Canned Sardines Association of the Philippines (CSAP). Retailers who agreed not to raise prices include Robinsons Retail Holdings, Inc., SM Markets (SM Supermarket, SM Hypermarket, Savemore), Metro Retail Stores Group Inc., and the Philippine Amalgamated Supermarkets Association. Complying with Executive Order 110, the DTI will intensify its nationwide monitoring to ensure the commitments are reflected at the retail level. It said it maintains jurisdiction over “726 variants of essential products in which 196 stock keeping units include a suggested retail price (SRP), including canned sardines, canned meat, coffee, processed milk, instant noodles, condiments, laundry soap, toilet soap, candles, salt, battery, bottled water, and bread.” On Friday, the department announced that the supply and prices of basic necessities and prime commodities remained stable. The DTI also clarified that the automatic nationwide price freeze is not in effect, despite President Ferdinand Marcos Jr.’s declaration of a state of national energy emergency. Under the Price Act (Republic Act 7581), prices are automatically frozen only under specific conditions, such as a state of calamity or similar emergency declarations. Enacted into law in 1992, the Price Act ensures fair pricing and availability of basic necessities and prime commodities, especially during times of calamities and emergencies. Violators face a fine of from P5,000 to P2 million. Last week, the trade chief met with 21 manufacturers of canned sardines, bread, bottled water, instant noodles, coffee, canned meat, toilet soap and candles, and agreed not to increase the prices for 30 days. Chynna Grace Ong and the Philippine News Agency Among them were Mega, Ligo, Unipak, Lucky 7, Fresca, Golden Town, Morjon, Wilkins, Nature’s Spring, Pinoy Tasty and Pandesal, Safeguard, Tide, Green Cross, Datu Puti, Lorins, and others. On Sunday, Executive Secretary Ralph Recto commended businesses that deferred price increases for their show of solidarity with consumers. “We commend businesses that have deferred price increases as an act of solidarity with the public, commendably placing patriotism before profits,” Recto said. He said the move aligns with government interventions to stabilize the country’s fuel supply and cushion the public from price shocks. The government has secured oil from both traditional and alternative sources, and received commitments from industry players like Petron and Seaoil to stabilize supply lines. The Department of Energy has also facilitated the procurement of 1.04 million barrels of diesel, with initial shipments expected this week. Fuel subsidies have also been distributed to transport operators, farmers and fisherfolk. Energy conservation measures are being enforced in government offices, including reduced fuel use for non-essential vehicles and monitoring of electricity consumption, Recto said.
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