Saturday, November 17, 2007 DTI to monitor market prices of basic goods
FOLLOWING reports that prices of prime commodities will increase in the next few days, the Department of Trade and Industry (DTI-Cebu) will check on Monday whether there is a new suggested retail price of basic commodities in the market.
DTI-Cebu Trade Regulatory Division Chief Zaida Bation said they will monitor next week the veracity of the report if prices of canned goods and other basic products in the wet and dry markets have gone up.
Prime commodities include canned goods like sardines, milk, coffee, flour and detergent bar, among others.
A news report over a national television network quoted the president of the Association of Retailers and Supermarkets–National Chapter as saying that supermarkets and grocery stores will increase the prices of basic goods in the next few days, a normal occurrence during the Christmas season.
Bation, during the recent PIA Kapihan, assured the public that prices of prime commodities will remain stable and that the DTI has secured the commitment of the manufacturers not to increase prices until the year ends.
Public advisory
DTI Undersecretary Zenaida Maglaya advised the public not to readily believe reports on the increase of the costs of prime commodities as manufacturers have promised not to raise rates until the yearend.
Bation said the DTI-Cebu price monitoring team will check supermarkets and grocery stores on Monday to determine whether the prices of canned goods and other basic products have risen.
Bation said it is possible that manufacturers may not increase prices but the plan to add cost comes from the side of the retailers and distributors.
Though the commitment made by the manufacturers was made late October or way before the implementation of the P1- per-liter oil price hike. Bation said usually oil price increases will not escalate the prices of basic commodities to substantial levels.
Promotions
During the Christmas season, business establishments usually offer promotions or grocery sale items due to strong market competition but this, however, does not include Noche Buena food items, like ham, Bation said.
In Cebu, Bation said basic commodities are priced lower than what is stated in the suggested retail prices in the market.
In case there is an increase in the prices of basic commodities, the adjustments are minimal and if a sharp rise in costs is introduced, business owners will have to justify the adjustment as the DTI will ask manufacturers, retailers or distributors for a breakdown of each product’s component cost, Bation said. (PIA-7)
