Prices of canned meats to go up, say manufacturers
Prices of canned meats will go up in January or February – and some even as early as now – after the Department of Agriculture revoked import permits for agricultural products, except rice, to curb smuggling, the Philippine Association of Meat Processors said.
ABS-CBN, quoting PAMP executive director Francisco Buencamino, reported that several meat shipments have been held in the ports pending documentation, which could translate to P4,500 in additional costs daily.
PAMP vice president Jerome Ong said importers are now saddled by renewal problems and a weaker peso which makes importation more costly.
The trade department said manufacturers have assured that prices of Christmas goods will not increase this year.
However, adjustments in the exchange rate would be factored in on first quarter of 2017.