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PIA Press Release

Instant noodle brand hikes price by 16 percent; other commodities remain stable

TAGUM CITY, Davao del Norte (13 February) -- While most prices of basic manufactured commodities have remained stable, the price of a particular brand of instant mami noodle has increased by 16 percent.

Latest monthly price monitoring report of the Department of Trade and Industry Davao del Norte provincial office showed that the 55-gram Lucky Me instant mami noodles, chicken flavor, formerly sold in leading supermarkets here at P4.90 a pack is now sold at P5.70.

DTI has monitored that the said brand is currently sold in a leading wet market here at P5.75 from its previous P5.50 price.

However, its current prices are still below the suggested retail price of P6.05.

DTI Provincial Director Nenita S. Nazareno in the monitoring report cited explanations of the Monde Nissin Corporation, Lucky Me manufacturer.

"Per notice signed by Gen C. Aquino, media and public relations specialist of Monde Nissin Corporation, the new suggested retail price of Lucky-Me Chicken was increased from P5.25 to P6.05 which took effect January 14, 2008 to cover the subsequent increases in the costs of packaging and raw materials," DTI explanation said.

Other brands of instant mami noodles of the same flavor have remained stable.

Meanwhile, Nido Full Cream Milk of 150 grams has shown the highest price increase of eight percent among the brands of processed milk. From P59.80 a month ago, it is now being sold in leading groceries and supermarkets at P64.70.

Prices of Bear Brand powdered filled milk, 150g, and Angel evaporated filled milk, 410 ml, went up by three percent and one percent respectively while the rest have shown no price movement.

Prices of flour which is generally of imported content, have also risen. Per 25-kilogram bag of White Rose soft flour has gone up by 10 percent from P720 a month ago to P790. Globe hard flour has reflected a nine percent increase from P805 to P880.

Soft flour Mega and Isla brands have hiked prices by five and four percent respectively.

On the other hand, most prices of the electrical and construction materials have gone up but GI steel wire, gauge 16, has posted the highest increase of 10 percent.

Prices of the rest of the non-food commodities monitored by DTI have shown that increases range from two to six percent.

President Gloria Macapagal Arroyo has directed DTI to take a closer look at prices of commodities in the market in relation to increases of fuel prices in the world market. (PIA XI/JMDA) [top]

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