DTI says prices of commodities remain stable

MANILA, Philippines - Prices of commodities remain generally stable except for vegetables and some sardine brands which are being sold above the suggested retail price (SRP) amid transport problems after continuous monsoon rains hit Metro Manila and other parts of Luzon recently.

The Department of Trade and Industry (DTI)’s price monitoring report from Aug. 13 to 17 showed that prices of most goods were at the same levels as the previous week except for P10 to P20 increase in vegetables as well as some canned sardines.

The price monitoring data report showed the price of cabbage rose to P60 from P50 in the week of Aug. 6 to 10 while kangkong (swamp cabbage) was being sold at P50 from P40. Radish was selling at P60, also up from P50 a week ago.

The price of okra climbed to P50 from the previous week’s P40.

Habichuelas (beans) saw the highest price increase as these were being sold at P90 compared to the previous week’s P70.

Trade Undersecretary Zenaida Maglaya attributed the higher prices of some vegetables to the difficulty in transporting fresh supply due to unfavorable weather conditions.

“Veggies’ (higher prices are) still due to logistical problems brought by rains and typhoon Helen that hit up North,” she said in a text message to The STAR over the weekend.

The DTI’s price monitoring report also showed that prices of canned sardines went up slightly week-on-week such as 555 which rose to P13.50 from P13.25, and Mega which increased to P13.75 from P12.75.

The two sardine brands are being sold higher than the P12.80 SRP which was imposed at the beginning of the month.

Maglaya said show cause letters will be issued to those selling the canned sardines beyond the SRP and they will be asked to give an explanation for the higher prices.

“If found not sufficient, they can be charged for overpricing,” she said.

While prices of processed goods have increased slightly from the previous week, Maglaya said the selling prices were still within the SRP such as the 300 ml condensed milk which climbed to P46.50 from P45.65; 150 grams of powdered milk which rose to P47.65 from P46.75; and 150 grams of canned corned beef which increased to P46 from P44.50.

On the other hand, the price of galunggong (mackerel scad) was down to P130 from P150 while the alumahan or short mackerel was being sold at P160 from P180.