MANILA, Philippines – Producers of 3 more sardine brands are seeking a P1 price increase as conservation efforts that involve a fishing ban remain in place.
Sardine brands Mega, Ligo and Youngstown are seeking a P1 increase per can citing higher cost of fish these days, trade undersecretary Zenaida Maglaya said in a press briefing on Tuesday, February 14.
The request for a price increase of the 3 brands came after 3 other brands — 555, Master and Family — raised their prices from P28 to P29 on January 20.
The 8% to 10% increase in the price of canned sardines is supposed to reflect higher cost of tamban fish due to the ban on sardine fishing.
Most of sardine makers in the country are located in western Mindanao.
The fishing ban covers pockets of high seas in the Asia Pacific region that have seen dwindling fish population in recent years. The ban has affected 100,000 Filipino families, according to the Agriculture Department.
Maglaya said the Trade Department is yet to give its approval on the recent price increase requests pending submission of data on their acquisition cost. – Rappler.com