THE Department of Trade Industry (DTI) needs to set new suggested retail prices (SRPs) for basic necessities to reflect increased consumer demand, food manufacturers said.
In a statement Friday, the Philippine Chamber of Food Manufacturers Inc. (PCFMI) said: “The last release of the SRP bulletin happened in September 2019. As a result, food manufacturers are struggling to keep up with the increasing demand with the upcoming Christmas season,” PCFMI said.
“There is a need to regularly update the SRPs of basic commodities to help food manufacturers recover from the losses due to the pandemic,” PCFMI First Vice President Helen Grace Baisa said.
The PCFMI said food manufacturers absorbed the impact of “outdated” price ceilings in order to keep retail prices artificially low.
It said the national government is responsible for ensuring the availability of basic necessities and prime commodities at affordable prices, especially during emergency situations, under Republic Act No. 7581 or the Price Act.
“As more Filipinos are able to consume more this coming holiday season, we trust that DTI will give equal importance to the voice of the food industry to ensure business stability,” Ms. Baisa said.
The PCFMI said the supply chain for food has been affected by the coronavirus disease 2019 (COVID-19) pandemic, which disrupted demand and highlighted logistical bottlenecks.
The PCFMI has more than 100 members including makers of canned goods, ready to eat meals, baked goods, dairy, coffee, and noodles. – Revin Mikhael D. Ochave
Food manufacturers call for SRP adjustments as demand rises
Source: Bantay Radio
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