DTI releases statements on prices of basic necessities, prime commodities

Tuesday, July 1, 2014

The Department of Trade and Industry-Consumer Protection Group (DTI-CPG) has issued statements on the prices of some basic necessities and prime commodities, including processed milk, bread, and agricultural products.

CPG has also tackled other requests for SRP adjustments as well as the Malacañang Meeting with the Department of Agriculture (DA), the Philippine National Police (PNP), the National Bureau of Investigation (NBI), and Office of Food Security and Agricultural Modernization.

 


 A. Processed Milk

  • The suggested retail price (SRP) adjustment for processed milk of several brands (and sizes/ volumes) – evaporated, condensed and powdered – takes effect today (Annex A).
  • The increases have a price range of P0.40-P4.30 or a percentage range of 0.55%-7.99%.
  • The manufacturers of the certain brands requested for SRP adjustments because of the increasing world prices of skimmed milk and whole milk powder, which are main ingredients for evaporated, condensed and powdered milk.
  • The request of SRP adjustments from manufacturers ranged from 9% to 12%.
  • But DTI only allowed increases within 0.55%-7.99% based on its review and evaluation of data gathered.
  • DTI issues a new set of SRPs for basic necessities as of 01 July 2014 (Annex B).

 B. Bread

  • Flour prices are stable.
  • Flour millers have assured DTI that there’s no increase on the prices of their flour bags.
  • There were news reports during the weekend that with price increases on egg and sugar, bread prices will increase.
  • DTI emphasizes that these ingredients (egg, sugar and milk) on bread have minimal effect on bread prices.
  • Milk and sugar only comprise 10-12% production cost of bread.
  • The Department expects no increase on Pinoy pandesal and Pinoy tasty since milk and egg are not their ingredients for the production of said breads.
  • Pinoy pandesal stays at P22.50 per pack and Pinoy Tasty is still at P37.
  • DTI received messages from the community bakers this morning and they said that there are no price increases for their breads.
  • Bakers stressed that there are no decreases on the sizes of Pinoy pandesal and Pinoy tasty, which are 200 grams and 450 grams, respectively.

 C. Other requests for SRP adjustments

  • DTI declined the request for increase of SRP for canned meat because prices of raw materials of these products are decreasing.
  • DTI also declined the request for increase of SRP for bottled water because the reasons are not justified. But there is another request from a manufacturer for an increase on SRP since the prices of the bottle cap and resin have increased. DTI is evaluating this request.
  • DTI further declines the request for increase of SRP for toilet soap because it needs more justification. For the meantime, the SRPs for Palmolive and Tender Care remain.

 D. Agricultural products

  • DTI mentioned the prevailing prices of some agricultural products based on the price report of Department of Agriculture’s Philippine Statistical Authority (DA-PSA) as of 28 June 2014 (Annex C).
  • DTI read:

a. Egg is still at P4.50.

b. Sugar’s SRP is still P50. Its prevailing price is also at P50 with a low of P47 and a high of P53.

c. Whole chicken is at P140.

d. Liempo is at P220 per kilo.

e. NFA regular rice is P27 per kilo and at NFA well-milled is at P32 per kilo

  • Cooking oil’s prevailing price in lapad is at P26.

E. Malacañang Meeting with DA, DTI, PNP, NBI, and Office of Food Security and Agricultural Modernization

  • In a meeting last 26 June 2014, Thursday, President Aquino ordered the DA, DTI, and other departments responsible in monitoring the price and supply of products under the basic necessities and prime commodities to strictly implement the provisions of the Price Act.
  • He instructed PNP and NBI to assist the Departments in fully implementing the Price Act.
  • Particularly, he ordered against profiteering, an illegal act of price manipulation based on the Price Act.
  • PNoy reminded that the monitoring teams can charge traders/ retailers criminally when found violating the Price Act.
  • PNoy requested DTI to assist DA in proposing an SRP for garlic.
  • PNoy also requested DTI to assist DA in monitoring the market in the provinces on the prices of garlic, rice and other agricultural products.



 

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