Philippine food firms pledge price freeze amid global supply worries

National

PHILIPPINE food producers have vowed to freeze prices for up to two months, ensuring households can access key staples without sudden spikes, even as global supply chains remain uncertain.

President Ferdinand Marcos Jr. announced the commitment after coordinating with industry players, assuring the public that local food supply remains stable despite international challenges affecting logistics and raw materials.

“Not only Century but various food processors and retailers as well, we have adequate stock,” he said in a Philstar report. He noted that businesses have pledged to hold prices steady for about a month, with some extending the freeze up to two months.

The president made the statement during a visit to the Calamba, Laguna facility of Century Pacific Food Inc., one of the country’s largest branded food companies.

Century Pacific produces a range of products including canned tuna, sardines, meat, dairy, and plant-based foods. Marcos personally inspected inventory and pricing conditions, noting that only part of the company’s stock was reviewed.

Trade Secretary Cristina Roque said that inspections across grocery stores and manufacturing plants show the current supply of essential goods could last at least 30 days. She reported that no incidents of hoarding or profiteering have been detected, as daily monitoring continues nationwide, and manufacturers have committed to maintaining prices for a minimum of one month, with some extending up to 60 days.

Century Pacific CEO Ted Po confirmed that the company’s operations remain robust, with factories fully running and inventories sufficient to meet nationwide demand. He emphasized that their distribution network continues to supply retailers across the country.

Marcos also urged the public to avoid hoarding, stressing that the government will continue coordinating with industry partners to maintain stable supply and pricing of essential commodities.(MyTVCebu)