Emergency Hotlines: LANDLINE (+63) 2 911 – 8688

Manufacturers want price increase despite DTI’s appeal for price drop

by UNTV News and Rescue   |   Posted on Thursday, 17 January 2019 04:56 PM

MANILA, Philippines — The Department of Trade and Industry (DTI) tried to persuade manufacturers to rollback their prices during the National Price Coordinating Council Meeting on Thursday (January 17).

The DTI met with manufacturers of milk, biscuits, juices and canned products to discuss its proposal.

The agency argued that the cost of raw materials and ingredients has already gone down therefore they should also cut the prices of their products.

However, sardine manufacturers refused to heed DTI’s call because the price of herring or tamban remains high.

Herrings now sell at P32/kg from its previous price of P19/kg, the manufacturers claimed, that’s why it is not possible to lower the price of canned sardines.

“Ang cost nila ay hindi sa oil, not because of oil, not because of TRAIN kundi ito ang main ingredient which accounts for 47% of their production cost which is fish,” explained DTI Secretary Ramon Lopez.

Meanwhile, manufacturers of canned meat did not ask for a price increase. However, they project a price increase once the Rice Tarrification Bill becomes a law.

This is because the measure will require an increase in tariff on imported meat from 5% to a staggering 40% in exchange for the lowering of tariff on rice.

Meanwhile, the DTI sees only a slight effect of the TRAIN law in the price of basic goods.

But according to supermarket owners, manufacturers may opt to add to the prices of goods the amount of tax that they will be required to pay.

“Pricing is a management decision so whether they want to increase because they don’t want to shoulder the increase in excise tax on gasoline and fuel prices, then we will see some price increase adjustments,” said Steven Cua, president of the Philippine Amalgamated Supermarket Association.

The Duterte administration’s economic managers project that inflation rate in the first quarter of 2019 will rise only by 4%.– Marje Pelayo (with reports from Mon Jocson)

Tags: ,

DTI accosts vendors in Obrero Market for not putting price tags

by UNTV News and Rescue   |   Posted on Monday, 5 November 2018 04:21 PM

DTI Undersecretary Ruth Castelo inspects Obrero Public Market

MANILA, Philippines – The Department of Trade and Industry (DTI) accosted several vendors at Obrero Public Market for not putting appropriate price tags on their products.

“Lagyan ninyo ng presyo, kung hindi iisyuhan nila kayo ng notice of violation. Lagyan niyo ng price tag itong tinda ninyo,” said Undersecretary Ruth Castelo from DTI’s Consumer Protections Group.

Castelo emphasized the importance of price tags to prevent traders from overpricing and taking advantage of the consumers.

“Lahat ng paninda dapat may presyo para sa kaalaman ng consumer para walang deception para maiwasan natin ang paiba-iba sila ng presyo; naka price tag dapat,” she added.

The DTI, meanwhile, said consumers should be informed that prices of chicken meat, vegetables and rice have already dropped.

Currently, the price of chicken is at P120/kg.

However, since there is no suggested retail price (SRP) on vegetables, the DTI calls on consumers to report anyone who engages in overpricing.

Meanwhile, National Food Authority (NFA) Officer in Charge Tomas Escarez said consumers may expect a much lower price of rice in the coming days.

Currently, the SRP on rice still remains at P27/kg for NFA rice; P39 to P47/kg for local well-milled rice; and P39 to P43/kg for imported rice. There is no SRP, however, for special rice.

The NFA said they are continuously monitoring rice prices in local markets against profiteering.

“By November 10 iikot kami.  May mga penalty na na ibibigay tayo,” Escarez said.

Meanwhile, the DTI guided consumers that SRPs on prime commodities are expected to be posted in grocery stores.

As the holiday season draws near, the agency said prices of holiday products are now starting to mark up such as mayonnaise, keso de bola and ham. – Marje Pelayo (with reports from Grace Casin)

Tags: ,

DTI, DA to impose price ceiling for traders, middle men

by UNTV News and Rescue   |   Posted on Friday, 31 August 2018 03:24 PM

 

MANILA, Philippines – The Department of Trade and Industry (DTI) and the Department of Agriculture (DA) will set a price ceiling for traders and middlemen to regulate price increases.

Measures will also be imposed to minimize intermediary layers to avoid a sudden spike in market prices.

The DTI is now collating the names of traders before setting a general meeting where the new regulations will be laid out.

Meanwhile, during an inspection in major markets this morning, DTI USec. Ruth Castelo said a number of products were still being sold at a price higher than the agency’s suggested retail price.

“Iyong presyo sa palengke at presyo ng traders hindi sumasabay sa presyo sa farm,” Castelo said.

At Mega Q-Mart in Quezon City, for instance, prices of red onions are higher by P20.00 than the SRP; white onions have a P25.00 mark up; garlic has P10.00, and round scad or galunggong are sold P20.00 higher than the agency’s SRP.

Traders of items with prices higher than the SRP were given notice of inquiry to explain.

Meanwhile, the DTI will release the updated expanded SRP tomorrow (September 1) which includes additional brands that requested for price hike prior to the start of the three months price freeze. – Mon Jocson / Marje Pelayo

Tags: , ,

DTI contemplates on rolling out moratorium on price hikes

by UNTV News and Rescue   |   Posted on Tuesday, 14 August 2018 03:25 PM

 

DTI Secretary Ramon Lopez | DTI Photo

MANILA, Philippines – The Department of Trade and Industry (DTI) has not yet decided on whether to impose price hike moratorium on basic goods despite requests from manufacturers.

The DTI recently released an expanded suggested retail price (SRP) with several adjustments on the price of canned sardines and meat products, taking into consideration the increase in production costs.

This prompted some consumer groups to suggest the implementation of a moratorium on price hikes in basic commodities.

The agency welcomes the suggestion however the decision still depends on the manufacturers.

“Tignan natin kung paano natin mapapakiusapan ang mga manufacturers, ang mga negosyo ng canned products…Tignan natin if they will cooperate,” said DTI Usec. Ruth Castello.

According to a study by consumer group, Laban Konsyumer, the prices in DTI’s expanded SRP shot up by 70%, thus, they insist on a moratorium.

During a visit with the Department of Agriculture (DA) officials in major markets today, Castelo suggests that DA should also update its SRP on agriculture products for the benefit of consumers.

The agencies found out that the prices of spices such as onion and garlic marked a staggering increase of P10.00 to P30.00 per kilogram.

Fish products such as milkfish, galunggong and tilapia also increased in prices by P10.00 to P60.00 per kilogram.

The DA vowed to review its SRP while both agencies promised to continuously monitor market prices of basic goods to protect the rights of consumers. – Mon Jocson / Marje Pelayo

Tags: , ,