DTI okays SRP increase for 82 basic commodities and prime necessities

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The Department of Trade and Industry (DTI) has approved a minimum increase for 82 basic necessities and prime commodities (BNPCs) in its latest suggested retail price (SRP) list.

These products include bread, canned fish, potable water in bottles and containers, processed milk, locally manufactured instant noodles, coffee, salt, laundry soap, detergent, candles, flour, processed and canned pork, processed and canned beef, vinegar, fish sauce (patis), soy sauce, toilet soap, and batteries. The guide includes additional stock keeping units (SKUs) such as Bareta Bar White (360g) and Bareta Bar FabCon (360g).

The prices of major raw materials like Tamban (for Canned Fish products), Mechanically Deboned Meat (for processed meat products), Buttermilk (for processed milk), and Palm Oil (for toilet paper and instant noodles) increased by 0.56 percent to 32.14 percent. In addition, fuel prices went up by 28.84 percent.

“While prices of 86 percent or 71 out of 82 SKUs adjusted their prices from 2 percent to 10 percent, the price increase is still less than the global price movement of raw materials,” DTI emphasized in a news statement issued on Friday.

“The Department carefully evaluates the requests for price adjustments from the manufacturers of BNPCs under the DTI’s jurisdiction. It is imperative that the DTI and the industry collaborate to ensure the consumers of high-quality products at affordable prices,” said Trade Secretary Ramon M. Lopez.

For her part, Trade Undersecretary Ruth B. Castelo noted that despite the adjustments in several basic and prime goods, the trade department assures the public that all increases in the SRPs were kept to a minimum level to provide consumers with reasonably priced goods amid the pandemic.

136 SKUs or 62 percent retained their January 27,2022 SRP Bulletin prices, while 38 percent or 82 BNPCs saw an increase in the latest SRP list.

Meanwhile, in the SRP list published last January 27, 2022, 66 percent or 143 of the 216 SKUs kept their prices, while only 34 percent or 73 out of 216 SKUs requested for price changes due to the rising cost of raw material and packaging globally.

In the same way, the DTI in January ensured that price adjustments for the 73 SKUs were kept to a minimum to ensure that consumers continue to have access to reasonably priced goods on the market.

The DTI issues the SRP list to continuously guide consumers and retailers in their purchase and sale of basic and prime goods. The public may refer to the most recent SRP list of basic and prime goods before going to the supermarkets and grocery stores. The price guide is accessible through the DTI web site.

Consumers are urged to report retailers, distributors, and manufacturers that sell basic necessities above their SRPs via One-DTI (1-384) Hotline or email, ConsumerCare@dti.gov.ph.