DTI to Approve Price Hike for Noche Buena Products

As Christmas approaches, the Department of Trade and Industry (DTI) has released data on Noche Buena items to give consumers a wide range of product choices at varying prices.

With the increasing costs of inputs for manufacturers, price hikes for Noche Buena goods are also expected. Trade Secretary Alfredo Pascual issued a statement last Tuesday, “Prices of raw materials have gone up and we need to recognize that. But we try to mitigate the amount of increases. I think that is what our role is. Make sure the requested increases are reasonable.” 

Moreover, Pascual explained that the list does not contain suggested retail prices, but rather information on the prices of Noche Buena products available in the market.

“These are not suggested retail prices. We just documented the going prices for the Noche Buena goods so consumers will be guided. You present the lowest price available, so they know they can find suppliers or stores with that kind of pricing,” he said.

DTI also emphasized last Monday that Noche Buena products are not categorized as Basic Necessities and Prime Commodities (BNPCs) under the Republic Act (RA) No. 75181, as amended by RA No. 10623.

Therefore, consumers can expect a price increase for products such as ham, fruit cocktails, keso de bola, cheese, sandwich spread, mayonnaise, pasta or spaghetti, elbow macaroni, salad macaroni, spaghetti sauce, tomato sauce, and creamer or all-purpose cream.

Pascual added that imported goods that have traveled significant distances are the ones with higher prices. He also appealed to manufacturers to be kind.

“I met with the food manufacturers a few weeks back. I explained to them how I look at pricing. If a manufacturer produces a range of products that cater to various income classes of society, they can distribute the contributions to overhead and profit across, not uniformly, percentage terms, so that the burden on the goods that are for the low-income families will bear a smaller part and the goods, premium brands for the same product line, could carry a heavier share of the burden for overhead and profit,” he said.

Pascual added that households should have enough buying power to take care of their Noche Buena needs from the 14th-month pay and Christmas bonuses. 

Source: ABS-CBN News