Philippines consumers can expect another increase in the prices of canned goods next month after tin can manufacturers recently adjusted their prices by 10%. Data from the Department of Trade and Industry showed canned goods became more expensive by 25 to 35 centavos this month following an increase in the price of tin cans in April.

Mr Henry Tañedo chairman & president of the Tin Can Manufacturers Association of the Philippines said that “Higher prices of raw materials are pushing them to increase prices by 10% next month. 202 cans, which is used for packaging sardines, is now at PHP 3.40 and is expected to go up to PHP 3.74 a piece in July. At the beginning of the year the 202 cans were sold at PHP 3.05.”

Reports said canned goods makers recently implemented another PHP 2 increase, which was not reported to the DTI. Retailers and canned goods manufacturers were given until early next week to explain the alleged price increase.

Imported tin plates comprise 70% of tin can production costs. Tin can costs make up about 20% to 45% of the total retail price of canned goods. DTI’s latest price report showed a 155 gram could of sardines costs between PHP 10 and PHP 11, while a 165 gram can of luncheon meat is sold at PHP 23 to PHP 26.