- The price of canned sardines is expected to increase in December
- The price increase is due to the rising cost of raw materials, labor and fuel
- The price increase came amid the group Laban Konsyumer’s appeal to lower the prices of goods
An increase in the selling price of canned sardines is expected in December following the Canned Sardines Association of the Philippines’ advisory sent to the Department of Trade and Industry (DTI).
As mentioned in Brigada News, the Canned Sardines Association of the Philippines (CASP) notified the DTI that the price of canned sardines would increase by P0.50 to P0.60 per can.
Marvin Lim, CASP president, said the price increase is needed because of the rising cost of raw materials, labor, fuel and the weakening of the Philippine peso against the US dollar.
Lim also said the impending price increase is the result of the shortage in the supply of Tamban (herring/sardine). He belied the statement of the Bureau of Fisheries and Aquatic Resources (BFAR) that there is no shortage of the fish.
The shortage in the supply of Tamban is expected to worsen as BFAR will impose a 3-month fishing ban for Tamban in Zamboanga Peninsula from December 1, 2018 to March 1 next year.
The looming increase in the price of canned sardines came amid the appeal of the group Laban Konsyumer to lower the prices of commodities following the series of rollbacks in the prices of petroleum products.