Fuel hike hits sardines; DTI studies price adjustments

Surging fuel prices are putting pressure on sardine manufacturers, prompting the government to hold ongoing talks with industry players on possible price adjustments.

According to Katrina Son's report on "24 Oras Weekend," the Department of Trade and Industry (DTI) has reportedly been meeting with sardine manufacturers since March to assess the impact of rising oil prices on production costs, amid concerns these could soon affect retail prices of one of the country’s most affordable food staples.

Current suggested retail prices (SRP) of canned sardines range from P15 to P21 per can, depending on the brand, according to the DTI.

For many consumers, sardines remain a daily staple due to their affordability.

“Napupurga na nga kami sa sardinas,” consumer Aida Williams said.

(We’re already fed up with eating sardines.)

For electrician Ronaldo Mendoza, sardines are the most practical option for households on tight budgets.

“’Yun ang pinakamura para sa mga taong medyo kapos,” he said.

(It’s the cheapest option for people who are struggling financially.)

While consumers depend on sardines for low-cost meals, manufacturers say rising fuel costs are making it harder to keep prices steady.

Francisco Buencamino, executive director of the Canned Sardines Association of the Philippines, said fuel—particularly diesel—is a major cost driver, especially in fishing operations.

“Number one, kailangan mo ng fuel—diesel fuel o krudo para mahuli ‘yung isda,” he said.

(First, you need fuel—diesel or crude—to catch the fish.)

Buencamino said higher fuel prices increase the cost of catching fish, which in turn raises production expenses for sardine makers.

Industry players also noted that sardine prices have remained unchanged for several years despite rising costs.

“Three or four years na nakapako ang SRP ng sardinas,” Buencamino said.

(The SRP of sardines has been fixed for three or four years.)

“Ang malaking problema namin noon, paulit-ulit kaming humihingi ng price adjustment,” he added.

(Our main problem has been that we’ve repeatedly requested price adjustments.)

Despite mounting pressure, the DTI said it has yet to decide whether a price increase is warranted.

“We cannot speculate at this time. Weekly po kami nagmi-meeting. Next week, we will meet again and then inform the public kung ano ang napag-usapan,” said DTI Secretary Cristina Roque.

(We cannot speculate at this time. We meet weekly. Next week, we will meet again and then inform the public of what was discussed.)

The agency earlier announced that sardines are among the basic commodities covered by a price freeze until May 10.

The DTI said it will continue to monitor the prices of essential goods as fuel costs remain elevated, with both consumers and manufacturers closely watching for any possible changes in sardine prices.—MCG, GMA News