DTI tightens price watch for Ruby

MANILA, Philippines - The Department of Trade and Industry (DTI) has intensified price-monitoring efforts to ensure prices and supply of commodities are stable as Typhoon Ruby continues its rampage through the country.

“We have already alerted all our price monitors in the NCR (National Capital Region) and in the regions and provinces that will be hit by Typhoon Ruby to intensify their price monitoring activities to ensure that prices of basic and prime goods are kept at reasonable levels,” Trade Secretary Gregory Domingo said in a statement issued yesterday.

“Any act of profiteering or hoarding will not be tolerated. Retailers found to be selling above the SRPs (suggested retail prices) will be issued show cause orders (SCOs) immediately,” he added.

The DTI issued the order to its price monitoring teams following instructions from President Aquino.

During the full council meeting of the National Disaster Risk Reduction and Management Council last Saturday, Aquino instructed the DTI to intensify its price monitoring efforts to ensure that prices of basic and prime goods are within the SRPs and there would be replenishment of supply so consumers would have access to essential products. 

The DTI’s initial price monitoring reports show that the supply of goods is adequate and there are no price increases in Metro Manila.

In the cities of Tacloban in Leyte and Borongan in Eastern Samar, local government units have reported that they have big procurements of basic and prime goods in the retail stores for relief goods.

To prevent a shortage of supply, the DTI issued an advisory to all distributors and manufacturers to guarantee the constant replenishment of goods in the market as well as ensure enough supply of basic and prime goods before, during and after the typhoon.

“We received positive feedback from the distributors and manufacturers. They assured us that there is enough supply of goods in the market, and that more stocks are ready to be delivered as soon as replenishment is needed. Port operations in the area are also allowed by the Philippine Coast Guard which remain closed due to rough seas,” DTI Consumer Protection Group Undersecretary Victorio Mario Dimagiba said.

Apart from price and supply monitoring, Aquino also instructed the DTI to conduct Diskwento Caravans in areas hit by the typhoon, particularly in Tacloban, Borongan as well as Catarman in Northern Samar.

The Philippine Chamber of Food Manufacturers Inc. has committed to participate in the Diskwento Caravans.

During the Diskwento Caravans, basic and prime goods such as canned sardines, coffee, milk, bread, bottled water, detergent, condiments, sugar and other toiletries will be sold at a discounted ranging from 10 to 50 percent. 

National Food Authority rice will also be sold in the caravan.