No price hike in some Noche Buena products
The Department of Trade and Industry (DTI) announced that there will be no price hike in some Noche Buena products.
Filipinos are among the most excited people when the holiday season comes. As they say, Pinoys are starting the festivity early because as early as September, many are already preparing and putting holiday decorations at home and establishments.
DTI Secretary Ramon Lopez assured that several food manufacturers will not raise the prices of their products that are mostly in demand this holiday season, based on the article from Manila Times.
The Trade Secretary said that among the meat products that will not raise prices are from the brands CDO, Century, and Virginia Foods. Lopez added that other brands responded to DTI’s plea to monitor the prices of their products amid the COVID-19 pandemic.
“Brands such as Lady’s Choice, Clara Ole, UFC [and] Alaska [also] confirmed to us that they won’t increase their prices for their Noche Buena products,” the DTI Secretary expressed.
He added that the trade department is expecting that other brands will also maintain the stable prices of their products, especially those that have become staple during the holiday season.
Based on the article, Lopez earlier expressed that price increase of some Noche Buena products are subject to the assessment of DTI. The Secretary said that some companies have requested price increase by less than 1 percent to 3 percent.
“Every year, there are brands requesting for price adjustment to cover the increases in costs. But in our experience also, out of the over 20 brands, usually there are about five,” Lopes said.
He added that the request for price hike is being studied by DTI’s Consumer Protection Group if this measure is necessary or not. The Secretary also said that aside from the Noche Buena products, there were also manufacturers who requested to increase the prices of canned goods. The DTI is also studying this request, Lopez said.
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