DTI sets price cap for noche buena goods

CEBU, Philippines - As early as now, prices of Noche Buena products have already posted increases due to the rising cost of raw materials such as pork.

In connection, the Department of Trade and Industry issued an official 2014 Noche Buena price list to guide consumers in buying during the holidays at the same time warn retailers to follow the set price ceilings.

Zaide Bation, Consumer Welfare chief of DTI Cebu, said the manufacturers provide the retail prices after consultations with retailers associations, consumer groups and national agencies.

She added that the trade agency would further step up price monitoring activities to ensure stable prices.

Based on the price list, prices of Noche Buena products of various brands have both increased and decreased while costs other variants of these goods have remained the same.

Prices of several brands of ham, fruit cocktail, cheese, sandwich spread, mayonnaise, keso de bola, macaroni, spaghetti sauce, tomato sauce and cream have gone up by one percent to 13 percent. Price hikes range from 15 centavos to P97.30.

In addition, prices of other variants of these goods – ham, fruit cocktail, sandwich spread, mayonnaise, keso de bola, spaghetti, spaghetti sauce, tomato sauce and cream – have remained the same with last year’s costs.

Costs of other product variants selling ham, spaghetti and elbow and salad macaroni have gone down from 25 centavos to P31.50.

According to a data from the Bureau of Agricultural Statistics, price of pork ham or “kasim” has increased by 11.11 percent from P180 to P200; cost of pork liempo has gone up by 10.53 percent from P190 to P220; and pata front's price has climbed by 14.29 percent from P140 to P160.

Retailers found selling products at prices above the SRPs will be asked to explain and show the cost of acquisition, she explained.

Bation also advised consumers to be vigilant on unusual trade practices among retailers. Consumers are likewise told to see the expiry date and price tag of products before buying, ensure that shelf price and the price at the cashier are the same and compare the weights of competing brands.  (FREEMAN)