MANILA, Philippines – The Department of Trade and Industry (DTI) and the Department of Agriculture (DA) will set a price ceiling for traders and middlemen to regulate price increases.
Measures will also be imposed to minimize intermediary layers to avoid a sudden spike in market prices.
The DTI is now collating the names of traders before setting a general meeting where the new regulations will be laid out.
Meanwhile, during an inspection in major markets this morning, DTI USec. Ruth Castelo said a number of products were still being sold at a price higher than the agency’s suggested retail price.
“Iyong presyo sa palengke at presyo ng traders hindi sumasabay sa presyo sa farm,” Castelo said.
At Mega Q-Mart in Quezon City, for instance, prices of red onions are higher by P20.00 than the SRP; white onions have a P25.00 mark up; garlic has P10.00, and round scad or galunggong are sold P20.00 higher than the agency’s SRP.
Traders of items with prices higher than the SRP were given notice of inquiry to explain.
Meanwhile, the DTI will release the updated expanded SRP tomorrow (September 1) which includes additional brands that requested for price hike prior to the start of the three months price freeze. – Mon Jocson / Marje Pelayo
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