Noodles, canned meat prices up

MANILA, Philippines –  The Department of Trade and Industry (DTI) reported yesterday that prices of some basic food products including canned meat and noodles have gone up by as much as 10 percent, while the prices of bread and flour are also expected to increase.

The National Price Coordinating Council (NPCC) is also poised to recommend the importation of sugar in spite of the reluctance of the Sugar Regulatory Authority (SRA) because the price of sugar is still between P62 to P70 per kilo.

Small liquefied petroleum gas (LPG) retailers, however, have reduced prices anew by P1 per kilo.

Trade Undersecretary for Consumer Welfare Zenaida Maglaya said that department officials would discuss the prices during the NPCC meeting today.

Early this month, milk prices went up by between 3.5 to 10 percent.

Argentina, one of the four brands of processed meat being monitored by DTI, had increased their price by 3 to 5 percent. The three brands that did not adjust their prices were Purefoods, Swift and CDO.

The price of noodles also went up, with Lucky Me brand increasing their price by 5 percent.

Maglaya said that other noodle brands are waiting for the market reaction to the increase of brand leader Lucky Me.

She explained that if people are still willing to buy at a higher price, other brands might also hike their prices.

Maglaya said that the price of sugar still has not gone down to acceptable levels. The price of sugar ranges from a low of P62 per kilo to a high of P70 per kilo.

She said that during their last NPCC meeting, they were assured by sugar farmers that prices would go down because they will be harvesting their crop soon. However, Maglaya said that prices are still high.

“We will ask the SRA to present their total volume and their total production for this crop season. They have assured us that importation is not necessary but we will see during the meeting,” Maglaya said.

She said that the council could intervene and recommend the importation of sugar.

“The council can recommend to the President because many products are affected by sugar prices like bread and milk,” she added.

Party-list Rep. Arnel Ty of the LPG Marketers Association announced the recent reduction of the price of an 11-kilogram LPG cylinder from P677 to P667.

The LPGMA implemented the P1 per kilo price cut after major LPG producers Petron and Total cut prices by P1.50 per kilo.

The P1.50 per kilo reduction by Petron and Total, however, came after the LPGMA cut its prices by P1 per kilo a few days ago.

Industry players have been adjusting LPG prices once every month based on the international contract price of LPG.

LPGMA members include Omni Gas, Pinnacle Gas, Island Gas, Cat Gas, and Nation Gas. –-Ma. Elisa Osorio (The Philippine Star) with Donnabelle Gatdula