January 5 ------ Budget-conscious Filipinos may have a tougher time getting the most out of their grocery money in 2024 as price hikes for basic commodities such as rice, canned sardines, instant noodles, and milk may be imminent in the coming days.
According to a 24 Oras report, the Department of Trade and Industry (DTI) said manufacturers of these products along with canned meat, coffee, bottled water, salt, and condiments have pending petitions for price increases. Depending on the product and the weight, DTI said, the requested price hikes range from P0.25 to P7.25. For bread products such as Pinoy tasty and Pinoy pandesal, the price adjustment may come at P2 to P2.50. Even manufacturers of other essentials such as batteries, candles, and soap have asked the government to raise prices. The DTI said manufacturers have petitioned for the price increases as early as 2022, but were just asked to defer the implementation. "Kasalukuyan pong nakikipag-usap, nakikipagtawaran ang DTI sa mga manufacturers kung paano kumbaga magkita sa gitna," said DTI Assistant Secretary Amanda Nograles. "Ngayong 2024, hindi na po mapipigilan dahil kung maiipit ang mga manufacturers, 'yun mga matatamaan mga trabaho," she added.
Out of the over 200 items in DTI's list of necessities and prime commodities, manufacturers of 63 of these have requested for price hikes. The DTI said, however, that it was working to soften the blow on consumers' pockets. "Hindi lahat ia-approve sa bulto lahat ngayon January. Kung sino nauna nag-file noong 2022 pa at saka early 2023, 'yan ang mauunang ire-release ng DTI," said Nograles. "Sana 'wag mag-alala ang ating mga consumers natin kasi siyempre iniisip naman din ng DTI paano 'yang pacing, magandang timing para ma-rollout ang approval," she added.
Meanwhile, farmers' group Samahang Industriya ng Agrikultura (SINAG) reported that prices of well-milled rice have increased by P2 per kilogram to P54 from P52. However, SINAG said an additional P2 per kilogram may be imposed as prices of rice products remain high in the world market, where the Philippines gets its additional supply. "Nasa $620 per metric ton dahil doon sa El Niño," said SINAG Chairperson Rosendo So.
Based on its monitoring, the Department of Agriculture (DA) reported that well-milled rice currently retails for P40 to P55 per kilogram in Metro Manila markets. "May parating na bigas na imported pero ang problema mataas pa rin ang presyo sa international market. We cannot expect na bababa ng mababang-mababa 'yung presyo so hopefully ang makuha na ibang sources ay mababa 'yung presyo," said DA Spokesperson Arnel de Mesa. "Sa ngayon, we need to secure talaga 'yung supply alam natin magkakaroon ng El Niño. So there will be an additional challenge doon sa level ng productivity," he said.
Last December, the DA announced that the private sector would import 495,000 MT of rice to augment the country's supply and meet the needs of the population until the start of the next harvest season in March 2024.
Source: gmanetwork.com
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