DTI assures no shortage, no price increase of basic goods in Davao City

DAVAO CITY – The Department of Trade and Industry (DTI) in Davao City has heightened its monitoring to ensure prices of goods are within respective suggested retail prices (SRPs), and that there will be no shortage of prime commodities in the local markets.

DTI-Davao assistant regional director Edwin Banquerigo said they have been conducting weekly monitoring in 48 major grocery supermarkets, distributors, retailers, and other establishments to ensure that they comply with the latest September 1, 2018 SRPs set by the industry as the country experiences soaring inflation rate.

He said the agency observed that the SRP for most of the items classified under the prime and basic commodities have been followed, with some goods even sold at lower prices.

“We set suggested retail prices and just recently we have a massive monitoring requirement because of the escalation of prices, but it’s good thing that some are even selling lower the SRP but these SRP are not set by DTI. It is set in consultation with the industry. We have to factor in all costs, logistics, and packaging,” he said.

Banquerigo warned that establishments that do not comply with SRPs may face charges for violating Republic Act 7581, also known as The Price Act of 1992.

“Companies that do not follow will be issued with show cause order explaining why they did not follow the SRP and to those that really violate, there are corresponding charges,” he said.

Banquerigo said increases have been noted in the prices of agricultural commodities such as fish, meat, and vegetables in the city. He said the implementation of Comprehensive Tax Reform Program was not to blame for the price increases.

Robert Barlis, Consumer Protection Division chief at the DTI-Davao City, said the Price Act mandates the agency to monitor prices of basic commodities (bottled water, loaf bread, pandesal, candles, canned sardines, coffee, instant noodles, laundry soap, processed milk, and salt) and prime commodities (batteries, canned beef, condiments, flour, and soap).

“Although we try to cover other establishments, we focus on the bigger establishments because they have the most consumers. We try to cover as many. We regularly monitor 48 establishments but outside the 48, we also cover,” he said.

He said they determine the price trends based on commodities sold in 48 bigger establishments.