Sardine manufacturers will appeal the decision of the Department of Trade and Industry (DTI) to increase the suggested retail price (SRP) for canned sardines by only P1.50. Know more:
Sardine manufacturers will appeal the decision of the Department of Trade and Industry to increase the suggested retail price for canned sardines by only P1.50.
Buencamino said SCAP’s petition for a P3 price hike was meant to offset the rise in the costs of their raw materials, such as tin cans and imported tomato paste, which have been affected by the weakening of the peso and global headwinds. For one, he said the price of tin cans have gone up by 37 percent year-on-year.
Prior to the pandemic, he said canners were able to somehow earn from selling sardines at P18. Today, he said the pre-pandemic price of canned sardines is lower than the current production cost of canners. He said fishers who should supply the sardines to canners during the closed fishing season are unable to meet the required fish sizes and temperature. For one, he said the sardines being brought to the canners are larger than what they require.
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