DTI: Basic goods' prices steady amid recent heavy rain; 'bulk buying' for relief ops noted

Prices and supply of basic goods have remained steady in areas placed under a state of calamity due to the heavy rain and floods in past days, the Department of Trade and Industry said Thursday.

 

While DTI Secretary Gregory Domingo noted a shortage of instant noodles and canned sardines in some markets, he said this was due not to panic buying but "bulk buying" for relief operations.

 

Domingo, who monitored prices at the Mega Q Mart in Quezon City, also noted a slight rise in prices of vegetables and fish, with galunggong rising from P110 to P120 per kilo, which he attributed to bad weather.

 

“We are working with the local government units and in monitoring the prices of goods to ensure that retailers do not violate price control,” Domingo said.

 

“Owners of supermarkets, wet markets, and major manufacturers assured us that there is enough supply and there is no panic buying happening.” he added.

 

Also, Domingo reiterated an automatic price freeze will be implemented in the areas declared under state of calamity.

 

During a prize freeze, prices of goods remained at prevailing prices until the state of calamity is lifted.

 

The areas that had been declared under a state of calamity include:

 

- NCR (Marikina, Malabon, Navotas, Valenzuela, Muntinlupa, San Juan, Pasig, Pasay, Caloocan and Pateros)

- Central Luzon (Bataan, Pampanga, Zambales and Bulacan)

- Southern Luzon (Laguna, Palawan-Culion, El Nido and Linacapan)

 

Domingo also said the DTI is closely monitoring the prices of canned sardines in the Navotas-Malabon area.

 

He warned retailers who will violate the price freeze face fines of up to P1 million, with their goods confiscated.

 

Supply center relief operations

 

The DTI will meet with manufacturers to set up a supply center where goods may be sourced for relief operations, instead of supermarkets to avoid supply shortage. — ELR/KG, GMA News