Article by:
Ruth Abbey Gita-Carlos
MANILA – President Ferdinand R. Marcos Jr. on Wednesday supervised the monitoring of prices and supply of prime commodities and agricultural products at a public market and grocery store in San Juan City.
The activity was a joint effort by the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) to ensure price stability and adequate supply amid tensions in the Middle East.
Marcos, joined by DA Secretary Francisco Tiu Laurel Jr. and DTI Secretary Ma. Cristina Roque, went to Agora Market, where he inspected the prices and supply of basic commodities and agricultural products at the stalls.
"Iniikot namin ang iba't ibang mga palengke para tiyakin na ang presyo naman ng pagkain natin ay hindi biglang tataas (We are going around different public markets to ensure that the prices of our food will not suddenly increase)," he said after the inspection.
"Nagpapasalamat naman kami sa mga vendor na hindi sila magtataas ng presyo at hindi sila mag-price gouging, hindi sila magsasamantala dito sa krisis na nangyayari sa Middle East (We are also grateful to the vendors for not raising their prices, for not engaging in price gouging, and for not taking advantage of the crisis happening in the Middle East)," he added.
Marcos said the monitoring would continue to stabilize the commodity prices and supply.
Roque said manufacturers of basic goods, including canned sardines, bread, bottled water, instant noodles, coffee, canned meat, and soap, have committed to maintaining current prices for the next 30 days.
Tiu Laurel, on the other hand, said the DA is studying the possible implementation of price caps on imported rice due to a reported increase in retail prices.
Retail prices have reached PHP60 to PHP65 per kilo in some markets.
The DA is considering a PHP50 per kilo price cap on imported rice to curb rising costs driven by increased freight rates amid crisis in the Gulf region. (PNA)
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