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DTI to retailers: Stick to SRPs for Noche Buena goods

Rappler.com

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DTI monitors prices for Noche Buena products to stabilize prices and supplies during the spike in shopping activities leading to Christmas
ON NOTICE. Filipino mother and daughter check products at a local supermarket. File photo by ROLEX DELA PENA/EPA

MANILA, PHILIPPINES – Prices of certain brands of Noche Buena (Christmas Eve) products have increased by 0.72% to 28.67% compared to their 2013 prices, prompting the Department of Trade and Industry (DTI) to remind retailers to stick to the 2014 suggested retail prices (SRPs) for these goods.

The DTI said the Noche Buena products include all-purpose cream, cheese, fruit cocktail, ham, macaroni, mayonnaise, queso de bola (edam cheese), sandwich spread, spaghetti sauce, and tomato sauce.

Other brands, though, reduced their prices by 1% to 26.36%, while others remained at their 2013 levels.

SRPs are provided by manufacturers to set retail prices of products. With the published SRPs, consumers are guided on whether the goods sold are overpriced or above the profit margin.

“The DTI intensifies its market monitoring activities particularly for Noche Buena products to ensure stable prices and supplies this Christmas season and protect consumers from unscrupulous traders taking advantage of the spike in shopping activities,” Trade Undersecretary Victorio Mario Dimagiba said.

Dimagiba also said that the DTI targets to lower to P185 ($4.13*) per kilo and P135 ($2.96) per kilo the prices of pork and chicken, respectively, before the Christmas season.

Based on its monitoring, in cooperation with the Department of Agriculture (DA), some retailers were found to be selling pork at P220 ($4.91) per kilo, and chicken at P140 ($3.13).

An administrative fine of up to P1 million ($22,321.86) shall be imposed for violation of the Price Act, depending on the circumstances provided after due notice and hearings. Criminal liability for illegal price manipulation may result to imprisonment of not more than 15 years and a maximum fine of P2 million ($44,642.65).

From 4.9% in August, inflation for September eased to 4.4%, attributed to the slower rise in food prices, electricity charges, and the petroleum price roll back, the National Economic and Development Authority (NEDA) said on October 8.

Food inflation slid to 7.4% in September from 8.3% in August, with prices for rice going down to 10.7% from 13.2%; corn from 9.1% to 8.3%; and vegetables from 15% to 9.8%.

Discounted goodies

Meanwhile, the DTI joins the Consumer Welfare Month (CWM) through a “Diskwento (discount) Caravan para sa CWM” which began on October 8 and will run until October 10 at the DTI building in Makati City.

Participants at the Diskwento Caravan are manufacturers and distributors of basic necessities and prime commodities like bread, canned meat, cooking oil, fish, fresh meat, detergent soap, instant noodles, milk, processed meat, rice, sugar, and vegetables that the DTI and the DA monitor in the market.

Included also the caravan are the manufacturers and importers of products covered in the DTI’s Product Certification Scheme and have been issued the Philippine Standard (PS) license and/or the Import Commodity Clearance (ICC) certificate. Among those products with PS or ICC mark available in the caravan are Christmas lights, home appliances, and motorcycle helmets.

All products offered for sale in the caravan are from discounted from 10% to 50%.

The DTI has also arranged other dates of Diskwento Caravan in cooperation with  local government units. – Rappler.com

*$1 = P44.76

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