Cheaper canned sardines starting Oct. 1, says DTI

The Department of Trade and Industry is bringing down the standard retail price of canned sardines to P12.80 from the current P13.50, effective August 1.   Retailers selling at a higher price should watch out since the department would monitor the price of canned sardines in the market, said Trade Secretary Gregory Domingo at the monthly National Price Coordinating Council meeting in Makati on Tuesday.   “We will ask them to explain,” said Domingo if they caught retailers failing to follow the standard retail price.   Domingo said some fishing firms and canned sardine manufacturers claimed the price of tamban – the fish species used in canned sardines – remains high. BFAR handle on prices   But the Trade secretary cited Bureau of Fisheries and Aquatic Resources data, which noted tamban prices went down to P20-P25 per kilo from P32-P35 per kilo.   "So we based our decision on the government statistics that we have, which is from BFAR," he said.   Domingo said the department would also monitor supermarkets and groceries to see if they comply with the department order.   "We will ask them to explain and we will issue a show cause order for any retailer who will be caught selling higher than P50 per kilo," he said.   The Trade secretary warned that the department may impose penalties or file profiteering charges against erring traders.   No sugar price increase   Domingo also said the department has junked the request of sugar millers to increase the price of sugar to P52 from P50 per kilo.   "We rejected their request and sugar would stay at P50 a kilo," he said, adding that the supply of sugar remains sufficient.   Sugar millers said the milling season have ended, and the next milling season would start in October. — MJC/VS, GMA News