Bread, sardines prices seen to increase

Food producers are set to increase the prices of basic goods such as bread and sardines, citing the higher increase in prices of raw materials.

The Philippine Baking Industry Group (PhilBaking) is looking to hike prices of the more affordable bread by P4.00 per pack—Pinoy Pandesal to P27.50 from P23.50 per 10-piece pack, and Pinoy Tasty to P42.50 from P38.50.

“I have a strong feeling that the DTI Secretary will agree to it,” PhilBaking president John Lu Kua said in Bernadette Reyes's report on GMA’s “24 Oras Weekend” on Sunday.

“If for example the price of bread could not be adjusted, then the income of the bakers would not go up and the ability to pay would be very limited,” he continued.

Both Pinoy Tasty and Pinoy Pandesal are products of a joint product between the bakers group and the Department of Trade and Industry (DTI).

In a separate report by Katrina Son, the Southern Philippines Deep Sea Fishing Association (Sophil) is seeking to hike prices of sardines by P1.00, and by another P0.75 monthly given the higher prices of tin cans and logistics.

“Dumoble ‘yung fuel. Like two years ago it’s only about P25 to P35 (per liter). Ngayon nasa P70 to P80 na. Halos dumoble talaga especially logistics,” Sophil president Jaydrick Yap said.

[Fuel prices have doubled. Two years ago it was only about P25 to P30. Now it’s P70 to P80. It’s nearly double, especially logistics.]

Latest data available from the Department of Energy (DOE) show that the year-to-date adjustments stand at a net increase of P23.85 per liter for gasoline, P30.30 per liter for diesel, and P27.65 per liter for kerosene as of May 31, 2022.

“‘Yun ang gauge ng market ano, kung nagtaas ang sardines. Mahihirapan ang tao dahil nga most people, pinakasimpleng pagkain ang sardinas. May dalawang brand ng sardinas that went up this June,” Philippine Amalgamated Supermarkets Association President Steven Cua said.

[That is the gauge of the market. If sardine prices increase, the public will have a hard time because sardines are the simplest food. There were two sardine brands that went up this June.] — Jon Viktor D. Cabuenas/BM, GMA News