Canned Sardines Association of the Philippines (CSAP) Executive Director Francisco "Bombit" Buencamino urged the Department of Trade and Industry (DTI) to immediately act on its requested price increase to cushion the price shocks and trade disruption brought about by the geopolitical conflict between Russia and Ukraine.Manufacturers of canned sardines have asked the Department of Trade and Industry (DTI) to increase the suggested retail price (SRP) of their products, saying they were concerned another spike in fuel cost brought about by Russia’s invasion of Ukraine would raise their operating expenses. “We understand that the DTI needs to do a balancing act for both the manufacturers and the consumers. However, we are concerned that another round of fuel price hikes would drive up production costs by 3.5 percent,” said Canned Sardines Association of the Philippines (CSAP) executive director Francisco Buencamino.

Cahiles-Magkilat, B. (2022, March 11). Canned sardine makers asking for price hike. Manila Bulletin, p. B-1.