MANILA – Prices of canned sardines could go up by the first quarter of next year, due to higher fuel costs and a fish shortage, the distributor of a top brand said Monday.
The possible increase could match the price hikes in the last 2 years, said Ligo Sardines president Greg Tung.
“Our suppliers are informing us fuel costs have a very big impact. The volume of catch this year is extremely less versus last year,” Tung said in an exclusive interview with ANC’s The Boss.
“That’s when supply and demand comes in. I think towards the first quarter of the year, there should be another round of increase because of the shortage of raw materials,” he said.
Tung said price increases normally affect demand. Recent adjustments have caused sardine prices to go up to P15 per can from P10 per can, he said.