Food firms agree to price freeze of up to 60 days, says Marcos

MANILA, Philippines — Several food manufacturers have agreed to keep prices steady for up to two months as the government moves to cushion the impact of global tensions on basic commodities.

President Ferdinand Marcos Jr. said the commitment was reached following coordination with industry players, assuring the public that supply remains stable despite uncertainties affecting global commodities and logistics.

“Not only Century but various food processors and retailers as well, we have adequate stock,” Marcos said, adding that businesses have pledged not to increase prices “for about a month, and for some maybe up to two months.”

The president made the remarks after inspecting the facility of Century Pacific Food Inc. in Calamba, Laguna, where he checked food supply and pricing conditions.

Century is among the Philippines’ biggest branded food firms, offering products such as canned tuna, sardines, meat, dairy and plant-based options.

He said the government is closely working with suppliers to ensure the availability of basic goods, noting that only a portion of the company’s inventory was reviewed during the visit.

Trade Secretary Cristina Roque said parallel inspections in groceries and manufacturing plants showed that current food supply could last at least 30 days, particularly for basic necessities and prime commodities under government monitoring.

Roque added that no cases of hoarding or profiteering have been reported so far, with daily monitoring being conducted nationwide. 

She said manufacturers have committed to maintaining current prices for at least a month, with some extending up to 60 days.

Meanwhile, Century Pacific chief executive officer Ted Po said the company’s operations remain stable, with factories running and inventories sufficient to meet nationwide demand.

“Our factories are running, our inventories are healthy and our distribution network continues to supply retailers nationwide,” Po said.

Marcos also reiterated that there is no need for hoarding, saying that the government will continue to coordinate with industry partners to ensure stable supply and prices of essential goods.