Expect price increases on some basic goods after April 16—DTI

People fall in line at a supermarket in Pasig City as Filipinos rush to buy goods on March 13, 2020, a day after President Duterte declared a community quarantine in Metro Manila. George Calvelo, ABS-CBN News/File

MANILA — The Department of Trade and Industry (DTI) on Tuesday said that there would be no price increase on basic commodities "until April 15," but added that price increases on some items should be "expected" after that.

"There is no price increase for basic necessities and prime commodities until April 15. [After that] definitely we can expect some price increase but not for all," DTI Secretary Cristina Aldeguer-Roque said.

"Nag-usap kami ng manufacturers and yung ibang basic necessities and prime commodities wala po silang price increase up to the end of April," she added.

The DTI Secretary said she would update the public on the possible price increases before April 16.

“Weekly na po ang meeting, after this Holy Week we will meet again with the manufacturers and also with the retailers,” said Roque.

Steven Cua, president of the Philippine Amalgamated Supermarkets Association, confirmed Tuesday the looming price increases on some grocery items come April 17 but said there was no reason to panic as the increments would be "insignificant."

Some manufacturers have already disclosed their plan to hike prices, but not all products will see an increase, Cua told ANC. 

He said manufacturers would implement price increases with caution so as not to lose customers, many of whom are already struggling with steep prices even before the oil crisis hit. 

SUPPLIES ENOUGH  

Meanwhile, the DTI said the supply of goods remained enough and there was no reason for panic-buying. 

“For now, there’s no need to panic, there’s no need to hoard kasi marami po tayong supply. The manufacturers assured us that there are enough supply, even the DA secretary informed the public that we have enough supply of food,” Roque said. 

“Stable po ang prices, with regards to the basic necessities and prime commodities, na yung listahan po ay kontrolado ng DTI ang mga prices,” she added. 

There are more than 200 basic necessities and prime commodities, according to DTI, and these include sardines, canned meat, milk, coffee, dairy products, bottled waters, cup noodles, Pinoy pandesal, Pinoy tasty and condiments among others.

Roque said businesses exploiting the situation through  hoarding of goods and profiteering could face charges.

“Again, we monitor and we enforce. Meron tayong parusa for those offenses. Depending on the offense but there’s up to P2 million, there’s also up to 15 years imprisonment, so depende po [sa] offense. Merong department sa DTI that goes after people engaged in profiteering, the people engaged in these kinds of not so good practices,” said Roque. 

But Roque noted that in one supermarket in Taguig that she visited, the prices of some basic necessities and prime commodities were even lower than the price guide set by the agency.