The Bill for the proposed Philippine Nutrition Label Act also calls for allergen declarations to put the country in line with many international regulatory systems.
Rolando Andaya Jr, who has sponsored the Bill, has emphasised that the move is designed to promote public awareness on the importance of a balanced diet.
"The proper labelling will provide consumers with enough information pertaining to their food intake in order to help them make dietary decisions that can improve their health," Andaya said in a statement.
He said labels should contain serving and calorie information, as well as measures of vitamins, minerals, fat and saturated fat, cholesterol, sodium, carbohydrates, sugar, dietary fibre, protein and other nutrients.
The Bill also provides that food items should not be distributed unless they conform to food and drug regulations.
It also mandates food safety agencies to confiscate the consumer products proven to be hazardous to public health, though it does not cover those who are engaged in the wholesale and retail distribution of commodities.
Should the Bill be passed, violators will face fines ranging from P10,000-300,000 [US$212-636), depending on the gravity of the offence.