MAKERS of canned sardines are seeking an upward adjustment in the prices of their products due to the rise in the price of imported tin sheets resulting from the weakening peso.
Canned Sardines Association of the Philippines executive director Francisco Buencamino said the group has appealed to the Department of Trade and Industry (DTI) for a P3 hike in their products’ suggested retail price (SRP).
“Right now, most of our SRP products are P21… Ang request namin ay itaas sa P24,” Buencamino said.
He said canned sardine manufacturers are reeling from the high cost of tin sheets.
“These are imported materials. Habang humihina ang presyo against the dollar, nagmamahal,” he said.
If the SRP hike will not be granted, Buencamino said, “You will see lesser number of brands in the SRP level.”
“Mayroon namang option, magbabayad nga lang ng mas mahal if you really want sardines,” he added.