DTI: Prices of basic goods still within SRP
MANILA, Philippines — Prices of basic necessities and prime commodities such as bread, instant noodles, and canned goods are still within or below the suggested retail prices (SRP), the Department of Trade and Industry (DTI) said on Monday.
The DTI said this after having convened the National Price Coordinating Council (NPCC) on May 31 in a bid to assess the nationwide price and supply situation of these goods.
“In addition, the DTI continues to intensify its monitoring efforts to ensure the stability and availability of prices and supply of basic and prime goods. The department also assists the [Department of Agriculture (DA)] in monitoring the prices of agricultural products such as sugar and onion,” said the DTI, which also chairs the NPCC.
It added that prices of red onions, which have seen a large spike during the latter part of last year have continued to go down since January.
According to the price monitoring report of the DA in markets in the National Capital Region, locally produced red onions were sold for as low as P200 per kilogram (kg) to as much as P300 per kgImported ones, on the other hand, were being sold at P180 per kg to P220 per kg.
As of June 5, the price of these edible bulbs produced locally ranged from P140 per kg to P190 per kg.
In December last year, onions were being sold at P540 per kg to as high as P700 per kg in markets in Metro Manila.
Citing more data from the DA, the DTI said the same trend was seen in the prevailing retail prices of local commercial rice.
Meanwhile, the DTI also took note of the prevailing prices of sugar in groceries and supermarkets, which seemed to have eased only slightly compared to prices in January.
Prices of refined sugar in Metro Manila markets ranged from P90 per kg to P110 per kg back in Jan. 2, while washed sugar—the raw form that has not been bleached to become white sugar—retailed for P80 per kg to P90 per kg.
As of June 5, refined sugar was sold for as low as P86 per kg to P110 per kg, while “washed” sugar was sold at a price range of P82 per kg to P90 per kg.