Food firms mull price hike amid import disruptions : compare

Food firms mull price hike amid import disruptions


BusinessWorld
August 5, 2021 | 12:32 am
By
Reporter
FOOD COMPANIES are considering price hikes as global supply chain disruptions increase import costs, an industry group said.
Philippine Chamber of Food Manufacturers, Inc. (PCFMI) Legislative Committee Chair Helen Grace Baisa said that the industry has been burdened with additional costs in importing raw materials and finished food products amid delays in the supply chain.
Business groups in recent months have been flagging logistics disruptions and container shortages as industries catch up with demand from economies bouncing back from the effects of the coronavirus pandemic.
“The logistics issue has been there, but since the pandemic, shipping line and destination charges increased by four times on top of surcharges implemented locally,” Ms. Baisa said in English and Filipino in a phone interview last week.

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