Milk makers freeze prices for two months, or until July 10
RESPITE The Department of Trade and Industry lauded milk companies for freezing prices until July 10. —Inquirer file photo
MANILA, Philippines — Alaska Milk Corp. and Nestlé Philippines, two of the biggest milk manufacturers in the country, have committed to freezing the prices of some of their products for 53 days, or until July 10, amid rising costs of food, the Department of Trade and Industry (DTI) said on Saturday.
The announcement was made during the DTI’s Saturday morning radio program on dzBB, citing these companies have implemented the price control measure on some of their stock keeping units included in the government’s suggested retail price (SRP) bulletin.
READ: DTI to include unit costs in price bulletins
The Alaska products included are the Alaska classic sweetened condensed milk and its Liberty Condensada sweetened creamer.
For Nestlé milks, the products covered are Nido FortiGrow and the Carnation Condensada sweetened condensed creamer.
“This is why the DTI is thankful for the continued support from the manufacturers of basic goods. And of course, we are also encouraging other manufacturers to implement a voluntary price freeze,” Trade Assistant Secretary Michael Kristian Ablan said during the program.
Other price freezes
Earlier on May 10, the DTI said several manufacturers have voluntarily implemented a price freeze on select SKUs of canned meat, processed milk and bottled water until the said date.
Included in the price freeze are Wilkins Distilled Bottled Water, Viva Mineralized Bottled Water, CDO Luncheon Meat, CDO Meat Loaf, Bingo Corned Beef, Bingo Beef Loaf, CDO Beef Loaf, 555 Meatloaf, Argentina Meat Loaf, Argentina Corned Beef, Argentina Beef Loaf, 555 Beef Loaf, Birch Tree Full Cream Milk, Instant Mami Chicken na Chicken and Instant Mami Beef na Beef.
Trade Secretary Alfredo Pascual commended the manufacturers of these products, including Century Pacific Food Inc., CDO Foodsphere Inc. and Coca-Cola Beverages Philippines Inc.
According to the latest data from the Philippine Statistics Authority, food inflation at the national level rose to 6.3 percent in April 2024 from the 5.7 percent in March 2024, while falling from the 8 percent in April 2023.
