Manufacturers reluctant to bring down prices – DTI

Manufacturers of basic goods and commodities remain reluctant to lower commodity prices despite declining crude oil prices that have led to lower domestic trucking costs, the Trade department said.

Following a meeting of the National Price Coordinating Council (NPCC) on Friday, Trade Secretary Adrian Cristobal and Undersecretary Victorio Mario Dimagiba told reporters that the department would be talking to associations of goods manufacturers and producers—from poultry, crops, and dairy to meat processors and sardine canners—in an effort to reduce suggested retail prices (SRPs).