Metro Manila, Philippines – Consumers will see higher prices on some daily goods starting April 1.
In an interview with NewsWatch Plus on Friday, March 27, Steven Cua, president of the Philippine Amalgamated Supermarkets Association, Inc., said grocery stores and supermarkets will see price increases on some products amid rising fuel costs due to the ongoing Middle East crisis.
“Don’t worry, these are not very big adjustments,” Cua said, noting that only a few manufacturers plan to implement the price hike.
Cua said depleting raw materials, which affect production, and longer delivery routes that drive higher transportation costs are among the reasons behind the increases.
He also noted that more manufacturers, including those in the agriculture sector, may announce price increases should the conflict continue.
“It’s always a possibility, but that’s not the right mindset,” Cua said on panic buying.
Cua noted that the Department of Trade and Industry is taking the necessary steps to cushion the impact of the price hikes on consumers, suggesting that distributors co-load to ensure logistical efficiency. He added, however, that suppliers must cooperate with one another.
