Canned sardine price cut by P1 tomorrow

MANILA, Philippines, June 30 ------ Food and beverage firm Century Pacific Food Inc. (CPFI) is implementing a price rollback of P1 on its canned sardine products starting tomorrow to help ease the financial burden on consumers.

In a statement, CPFI said there will be a P1 rollback for every can of sardines under flagship brands Ligo and 555. “In our small way, Ligo and 555 brands want to ease the burden on consumers and support them during these times,” Ronald Agoncillo, vice president and general manager of CPFI Sardines said. “Cost-effective actions, such as our continuous efforts to maximize the value chain, working with different communities and alignment with stakeholders, allowed us to give maximum value to our customers while maintaining high product quality standards,” Agoncillo added.

Last week, the Department of Trade and Industry (DTI) said canned sardine makers are not implementing price increases. Trade Secretary Cristina Roque met with Canned Sardines Association of the Philippines led by Chattrade, Mega Prime Foods Inc., PERMEX, Universal Canning Inc. and CPFI last week, following reports the industry is seeking a P3 increase in the suggested retail price of a 155- gram can of sardines due to rising production costs. While the DTI did not receive a formal petition for the price hike, it initiated the dialogue with canned sardine manufacturers to address the issue.

The DTI monitors the prices of basic necessities, including canned fish, to ensure stable prices and ample supply. Based on its recent monitoring, the DTI said prices remain stable despite geopolitical developments. There is also a steady supply of basic goods available in the market. The DTI is actively working with manufacturers, local government units and other agencies to ensure essential products remain accessible and affordable.

Source: philstar.com