Four major manufacturers have extended a voluntary price freeze on basic necessities and prime commodities (BNPCs) beyond the April 16 deadline, the Department of Trade and Industry (DTI) said Monday, reinforcing efforts to cushion consumers from rising production costs.
According to the DTI, Procter & Gamble (P&G) will hold prices of laundry detergent and toilet soap until April 28. Alaska Milk Corp., Virginia Food Inc., and Lorenzana Foods Corp. will maintain current prices on processed milk, canned meat, and condiments, respectively, until April 30.
Earlier commitments of holding prices steady were made by Monde Nissin, Nestlé Philippines, San Miguel Foods, and Unilever Philippines. These companies agreed to defer price increases following a March 28 meeting with Trade Secretary Cristina Roque.
Roque said any adjustments beyond agreed timelines will require prior DTI approval. “We need to know about any increase and give the go signal,” she said, noting the agency will conduct weekly or biweekly consultations with manufacturers and retailers as fuel prices fluctuate.
The DTI continues to monitor supermarket and grocery prices, while public markets remain under the Department of Agriculture. Violations such as hoarding and overpricing are punishable under the Price Act.
Despite cost pressures, Roque assured that supply remains adequate and prices stable. Retailers echoed this, reporting sufficient inventories and a calm market.
Steven Cua, president of the Philippine Amalgamated Supermarket Association Inc., urged households and small businesses to restock prudently during the window, while avoiding panic buying. He also advised consumers to take advantage of discounted non-food BNPCs and consider neighborhood stores for convenience and competitive pricing.
