MANILA, Philippines — The Department of Trade and Industry (DTI) has approved price increases for coffee, milk and fish sauce (patis).
Trade Secretary Ramon Lopez said in a Viber message yesterday that the DTI approved price hikes of around two to five percent for the products. The price hikes are now in effect.
“One increase there is Kopiko, from P6 to P7, but higher grammage from 25 to 30 grams. So, lesser cost per gram,” Lopez said.
Based on the latest suggested retail price list of the DTI, the price of the 300-milliliter (ml) Milk Maid full cream milk is now at P72 from P70.20.
For the 168-ml Carnation condensed milk, the new price is P37.50, up from P37, while the price of the 300-ml Cow Bell condensed milk has risen to P30.75 from P30.
The 154-ml Alpine evaporated full cream milk is now being sold at P29.75 from P29.50, while the 154-ml Carnation evaporated full cream milk is priced at P20.50 from P20.
As for the 150-ml pouch Lorins fish sauce, the new price is P9.90, up from P9.45, while the 350-ml Lorins budget pouch is now sold at P18.25 from P17.70.
Lopez said the price hikes were approved as manufacturers cited higher cost of raw materials.
For coffee, he said higher costs of raw material and imports were cited as reasons for the price increase.
Kopiko is manufactured by Indonesian firm PT Mayora Indah Tbk. It is slapped a special safeguard duty by the Philippines.
As for fish sauce, Lopez said the manufacturer asked for an increase due to higher raw material and packaging costs.