Rising cost of paraffin wax to hike candle prices

CEBU, Philippines - The government has warned the public that prices of a certain candle brand would increase amid the rising cost of paraffin wax which is a major element of the product.

The Department of Trade and Industry said suggested retail prices for Liwanag candles would hike by 2.06 percent to 2.42 percent starting September 17, weeks before All Saints’ and All Souls’ Day when candles are normally in demand.

In an interview yesterday, Consumer Welfare Chief Zaide Bation of DTI Central Visayas explained that based on the data collected by the agency, the price of paraffin wax has gradually been rising in the past three years.

She noted the cost of the raw material increased by seven percent -- from P88.20 to P94.60 per kilogram -- within 2011 up to this year.

Paraffin wax is a white solid petroleum by-product produced when crude oil is refined into gasoline. It is the most commonly used wax for candle making.

She added the apparent increase of the wax has urged the department to approve the new SRPs for Liwanag Esperma type candles: 20-piece bundle of Esperma #3 (P44.75 from P43.75); 20-piece bundle of Esperma #5 (P62 from P60.75); 4-piece pack of Esperma #16 (P32.50 from P31.75); 4-piece pack of Esperma #18 (P53 from P51.75); and 2-piece pack of Esperma #24 (P125.50 from P122.75).

Small candle vendors at the market or near churches are selling candles at P1 – the cheapest – per piece and other varieties are sold at P10.

Bation also warned candle vendors that they could not raise yet the price of ordinary and locally-made candles unless the trade department would validate circumstances for an increase. Cases of overpriced candles should be reported to their office, the DTI said. 

“Amo pa pud nang i-check ang manufacturing cost ug distribution cost sa maong product before ta maka-ingon nga kinahanglang i-increase ang price,” the official said.

The department has advised consumers to buy candles as early as now and take advantage of the current price before the price hike next month. The DTI said this is the first in three years that it has agreed an increase for candle SRPs.

SRPs for candles have stayed reasonably stable in past years.

According to the Price Act, candles are among the products under the basic necessities. — (FREEMAN)