Six manufacturers withdrew their requests for price increase, which, in turn, prompted other manufacturers to hold off price increases until the end of the year, according to Trade and Industry Secretary Alfredo E. Pascual.
The Trade chief bared that the six manufacturers who withdrew their earlier request for price increase have influenced other manufacturers, hence they reached a consensus to hold off their requests until the end of the year. However, Pacheco said they are set to meet with canned sardines manufacturers as the Trade department continues to appeal that there will be no suggested retail price adjustments until the end of the year.
As of September 19, 14 manufacturers of 46 Stock Keeping Units covering 10 categories of BNPCs requested suggested retail price adjustments due to the high cost of major raw materials, packaging materials, fuel costs, wages, and other costs that affect the production of these essentials goods.
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