News - 02262020_NWS_SRP

QUEZON CITY – The Departments of Trade (DTI), Agriculture (DA), Local Government (DILG), and the Quezon City Local Government conducted a joint price monitoring last 24 February at Mega Q Mart to enforce the Suggested Retail Prices (SRPs) of ten agriculture products for all Metro Manila markets.

Letters of inquiry were issued to two market vendors of chicken for overpricing and one sugar vendor for the lack of price tags/signages. Vendors have 48 hours to answer these letters or else, they will be given penalties which can range from PHP5,000 to PHP1,000,000, according to the Price Act.

“The effectiveness of the SRP implementation is dependent first on good information campaign and the cooperation among DA, DTI and the DILG with the local government units concerned, since they are the ones who supervise to the market masters in the public markets. For the retailers to comply with the SRP, the market masters must check if the traders entering their markets as well as the retailers are overpricing,” said DTI Secretary Ramon Lopez.

“In chicken for instance, if the retail price is PHP 130, the wholesale price from the trader should not be higher than PHP 110 to give the market vendors enough margins to sell at SRP of PHP 130,” he added.

DA Secretary Dar added that the price change from farmgate to retail should not be more than 60%.

Under the DA Administrative Circular 01 issued on 20 February 2020, all Metro Manila markets should follow the SRPs for selected food items, namely: pork (pigue/kasim) – PHP 190; chicken (whole, dressed) – PHP 130; sugar (raw, brown) – PHP 45; sugar (refined) – PHP 50; bangus (cage-cultured) – PHP 162; tilapia (pond-cultured) – PHP 120; galunggong (imported) – PHP 130; garlic (imported) – PHP 70; garlic (local) – PHP 120; and red onion (imported) – PHP 95.

“This is a call to all traders and retailers in all Metro Manila markets. We now have the suggested retail prices for [these] food commodities. The monitoring and surveillance are a multi-government department approach, to include the local government unit concerned. Please, let’s strictly observe the SRP,” said Secretary Dar.

Consumers can report violating retailers to DTI through the 1-DTI (1-384) hotline. Otherwise, DILG Secretary Eduardo Año said they can also approach the police or the local action centers of their cities or municipalities.

Aside from the retail price, the three agencies are now looking into enforcing a suggested wholesale price to monitor the traders.♦

Date of Release: 26 February 2020