Ham makers vow steady prices

MANILA, Philippines — Manufacturers of Christmas ham have vowed to hold off price increases for their products, the Department of Trade and Industry (DTI) said.

“For Christmas hams, we got positive response a while ago from the Philippine Association of Meat Processors Inc., especially the major brands of CDO,  Virginia Food and Century Pacific Food Inc. that they will heed the call of the DTI not to have any price increase due to the pandemic and financial difficulties of Filipinos,” Trade Secretary Ramon Lopez said.

He said ham manufacturers vowed to make their products more affordable this Christmas season. “They will absorb some losses, they said.”

The DTI has received requests from manufacturers to hike the prices of products used to prepare the Christmas eve meal or Noche Buena such as spaghetti, tomato sauce, elbow macaroni, creamer, sandwich spread, mayonnaise and fruit cocktail by one percent to three percent.

Apart from Noche Buena items, there are also requests to raise the prices of basic goods such as milk, sardines, canned meat and instant noodles.

Trade Undersecretary Ruth Castelo said earlier the proposed price increase for the basic goods is between P0.25 and P1.

Lopez said the DTI has yet to complete its evaluation of the requests.

“We are asking those requesting increases to justify and show evidence of cost increases in dollar and landed cost in pesos,” he said.

Earlier, he said the requests are being reviewed carefully as the companies have to prove first that their costs increased.

“Offhand, due to the pandemic, unemployment and strong peso, the suggested retail price should not change unless with strong cost justification,” he said.

The SRP list serves as a guide to consumers.

Products part of the SRP list are closely monitored by the DTI to protect consumers.