MORE major manufacturers of basic necessities and prime commodities have committed to implementing a voluntary price freeze in support of Filipino consumers amid rising prices of goods and the ill effects of the El Niño phenomenon, according to the Department of Trade and Industry.
In a statement, the DTI said several firms, including Monde Nissin, Alaska Milk Corporation, Nestlé, NutriAsia, Inc., and San Miguel Food, voluntarily issued price freeze orders on specified stock-keeping units (SKUs) of canned meat, processed milk, and bottled water.
The number of participating manufacturers rose to eight, with the price freeze now covering a wider range of 31 SKUs.
“The DTI greatly appreciates the efforts of manufacturers to freeze their prices. This collaborative initiative is vital in ensuring that consumers, especially those in areas not under price control, have continued access to basic goods at affordable prices,” Trade Secretary Alfredo Pascual said.
Additional commitments cover SKUs across six product categories: processed milk, processed canned meat or beef, bottled water, instant noodles, condiments, and coffee.
Notable brands included in the freeze are: Lucky Me! Instant Mami, Liberty Condensada, Alaska Classic Sweetened Condensed Milk, Bear Brand Fortified Powdered Milk Drink, Nestle Carnation Condensada, Datu Puti Soy Sauce, Datu Puti Vinegar, San Mig Coffee 3-in-1 Original, Purefoods Chinese Style Luncheon Meat, and Star Corned Beef.
Prior to this initiative, automatic price freeze mechanisms were already in effect in various provinces and municipalities severely impacted by El Niño.
An automatic price control freezes the prices of basic necessities for 60 days in areas placed under a state of calamity or emergency as stated in Republic Act No. 7581 or the Price Act, as amended. (PNA)
