A day after announcing the government's price stabilization measures, Vice Premier Jiang Yi-huah—who also convenes the Executive Yuan's commodity price stabilization task force—invited representatives from the food industry to a discussion on June 8, after which they signed and released a statement that they would resist price increases.
"We hope the concerted efforts of the government and private sector to stabilize prices are felt by consumers," the vice premier said.
Representatives from the Taiwan Food Industry Development Association and major producers associations for confectionery, baked goods, vegetable oil, flour, fermented foods, beverages, canned foods and dairy products attended the meeting, as did representatives of Uni-President Enterprise Corp., Wei Chuan Group, Taisun Enterprise Co., Standard Foods Corp., Vedan Enterprise Corp., AGV Products Corp., Taiwan Bifido Foods Inc., UTC Foods Corp. and Kimlan Foods Co.
The representatives stated that despite sharp fluctuations in raw material prices, the global economic depression and rising business costs stemming from domestic oil and electricity price adjustments, members of their organizations are willing to fulfill their social responsibility, and they will join the government's efforts to maintain market stability and keep price trends from affecting people's daily lives.
The measures expressed in the joint statement are summarized as follows:
1. Enterprises will fulfill their social responsibility, take to heart the citizens' welfare and endure hard times alongside them. They will help keep the prices of necessary commodities stable. Prices will reasonably reflect their costs. Enterprises will never hoard items to drive up prices.
2. If the prices of imported raw materials decrease, enterprises will pass these savings on to consumers in a timely manner.
3. Producers associations and other relevant organizations will work in concert with the government by informing their members of price stabilization policies and coordinating these policies' implementation.
"I would like to express my sincere recognition and gratitude to the food industry representatives who signed this resolution," Jiang said. "The government is determined to keep the commodity prices stable. Hoarding and collusion to raise prices are absolutely forbidden. I welcome businesses from every field to join the effort to keep prices low and help citizens lead happy and stable lives."
The Executive Yuan earlier negotiated with seven supermarket chains and four convenience store chains to establish a "stable price section" and add more items to their low-price commodity lists. It has also exhorted bakery associations and well-known bakeries to stabilize their prices.
The Executive Yuan will encourage relevant ministries to expand the number of signatories to the resolution and closely inspect market trends to ensure commodity prices remain stable.