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Noche Buena product makers rolling back prices

Noche Buena product manufacturers, except for one fruit cocktail brand, are not just holding off increases in prices but many of them are reducing rates, as well.

The Department of Trade and Industry (DTI) is expected to release their suggested retail prices (SRP) today, Nov. 8, 2020.

Trade and Industry Undersecretary Ruth Castelo said all Noche Buena product manufacturers, except for one fruit cocktail brand, have heeded the call of the DTI to maintain status quo on their SRPs this Christmas, including those that did not raise prices last year.

These manufacturers had earlier asked for 1 to 3 percent increase in their prices due to higher production cost.

Castelo is still trying to convince fruit cocktail manufacturer, which is bent on raising its prices, against doing so.

“Actually, it is a sacrifice for them because some increased already early this year but they will revert to the 2019 SRP Bulletin,” said Castelo.

Noche Buena products include ham, fruit cocktail, cheese, sandwich spread, mayonnaise and keso de bola.

Also included are spaghetti, macaroni, spaghetti sauce, tomato sauce and creamer.

On Friday, DTI Secretary Ramon M. Lopez already announced there will no price hike for several Noche Buena products. Aside from ham manufacturers CDO, Century and Virginia Foods meat products, “other brands heeded our call to keep prices in view of the pandemic and hardships of many Filipinos.”

Brands such as Lady’s Choice, Clara Ole, UFC, and Alaska confirmed they won’t raise prices for their Noche Buena products, said Lopez.

“Expecting more brands to join the move to keep prices stable,” he said.


Source: Manila Bulletin (https://mb.com.ph/2020/11/08/noche-buena-product-makers-rolling-back-prices/?utm_source=rss&utm_medium=rss&utm_campaign=noche-buena-product-makers-rolling-back-prices)

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