Consumer goods and food manufacturing businesses in the Philippines will likely be the most affected by a potential price shock in oil and commodities if the Russia-Ukraine war escalates, analysts said. READ:
The Philippines is currently affected by the Russia-Ukraine war mainly through the surge in oil and food prices, and supply chain disruptions, Security Bank Corp. Chief Economist Robert Dan J. Roces said.
“Strains [are] evident in gross profit margin compression, and pressure to increase prices versus competition, which can weaken sales volume and capacity utilization,” Ms. Ulang said in a Viber message.O. Asuncion in a Viber message said industries like transport and manufacturing that use petroleum will also bear the brunt.
Latest data from the Department of Energy showed gasoline, diesel, and kerosene prices increased by P15.45, P27.35, and P21.55 per liter since the year started.
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