MANILA, Philippines - Two powdered milk brands and one detergent soap brand are set to slash their selling prices next month due to lower prices of raw materials, oil, as well as easing of congestion at the ports, according to the Department of Trade and Industry (DTI).
Trade undersecretary Victorio Mario Dimagiba said in a press conference yesterday Alaska Milk Corp. is reducing the suggested retail prices (SRP) of its powdered milk products beginning March 1.
Alaska Milk Corp.’s 150-gram powdered milk would be sold at P44.15 from P45.15 previously, while the one-kilogram (kg) powdered milk would be priced at P318 from the current P368, and the 1.8-kg powdered milk would have a new SRP of P512.50 from its present price of P632.50.
Aside from Alaska, Snow Mountain Dairy Corp. is also cutting the price of the 150-gram Birch Tree powdered milk to P57.10 starting March 15, from the current price of P58.10.
The price reductions follow Nestle Philippines, Inc.’s move to sell the 150-gram Bear Brand powdered milk at a new SRP of P50 from P51 previously.
Meanwhile, Unilever Philippines, Inc. is setting a new SRP for the 39-gram Surf Bar Blue detergent soap at P18.50 starting March 2, from the current price of P19.
Dimagiba said the price reductions are being made given the lower prices of raw materials and oil, and the improving situation at Manila’s ports.
As for cement, he said that while manufacturers announced price hikes earlier this year, prices are going down with the prevailing price now at P210 per 40-kilogram bag from P215 last week.
He also said truckers have started to implement lower rates with the easing of congestion at the ports.
At present, hauling rates of truckers for roundtrips in the National Capital Region are at P14,000 to P20,000, down from P30,000 during the height of the congestion at Manila’s ports last year.
As the situation at the ports improves, Dimagiba said shipping rates are also expected to decline with extra charges amounting to $300 to $350 covering port congestion fee and emergency recovery fee per container, no longer seen necessary.