No price hike seen for Noche Buena products

CEBU, Philippines - No high price increases are expected in Noche Buena products this year, said the president of the Philippine Retailers Association-Cebu.

Robert Go noted that demand for Noche Buena items has started to increase, including fruit cocktail, spaghetti, macaroni, mayonnaise, and tomato sauce, among others.

"Every store is stocking up on Noche Buena goods for the demand," Go, CEO of Prince Retail, told The FREEMAN.

He said supermarkets are unlikely to increase the prices of their Noche Buena items due to competition.

Consumers can now check the suggested retail prices (SRP) of Noche Buena products recently released by the Department of Trade and Industry through its website dti.gov.ph.

The SRP list covers products such as ham, fruit cocktail, cheese, sandwich spread, mayonnaise, queso de bola, pasta/spaghetti, elbow and salad macaroni, spaghetti sauce, tomato sauce and creamer.

In particular, Go cited that retailers usually jack up the supply of their fruit cocktail and creamer during this time of the year, noting the said products normally do not sell big in months prior to the holiday season.

"These products have high sales once a year so everyone stocks up," he said.

The PRA official noted that sales of Noche Buena goods during the peak Christmas shopping usually reached threefold or even higher, as they don't usually sell in ordinary months.

He added holiday spending will peak on the last week of November through the month of December.

He said retailers have been stocking up goods since October to meet the holiday demand.

"There is also high demand for deliveries especially that companies also buy for their employees, Christmas parties and give-away," he said.

Meanwhile, consumers are told to check the expiry date and price tag of products before buying them, ensure that shelf price and cashier price are the same and compare weights of competing brands.

The 2016 SRP apply nationwide both to supermarkets and wet markets, unless specified.

Supermarkets are told to place their SRP posters in their stores for the consumers' information.

Retailers found selling goods at prices above the SRPs will be asked to explain and show the cost of acquisition.  (FREEMAN)