1 month ago
29
Louella Desiderio - The Philippine Star
February 7, 2025 | 12:00am
MANILA, Philippines — The Department of Trade and Industry (DTI) yesterday released a new suggested retail price (SRP) bulletin for basic necessities and prime commodities, with 77 out of 191 stock-keeping units (SKUs) showing price increases.
Those with price increases are seven SKUs of canned sardines, five SKUs of coffee refill, four SKUs of 3-in-1 coffee, two of bread, three of instant noodles, five of candles, four of corned beef, three of beef loaf, six of salt, five of bottled water, 15 SKUs of condiments, six of toilet soap, six of detergent and laundry soap and one each for condensed milk, evaporated milk, powdered milk, luncheon meat, meat loaf and battery.
The SRP increase for canned sardines ranges from P0.90 to P2.73; for condensed milk, the SRP increased to P44.50 from P42; for evaporated milk, the SRP rose to P48 from P44; for coffee, increase ranges from P0.40 to P3.70; for bread, from P2.25 to P3.50; and for instant noodles, from P0.10 to P0.50.
The SRP list also showed six SKUs had price decreases. In particular, two SKUs of canned sardines and four SKUs of bottled water had price decreases.
Meanwhile, the SRP for 108 SKUs were unchanged.
There were changes in the sizes of some SKUs, with nine reducing the size but increasing the SRP, one reducing its size but maintaining its SRP and one increasing its size and raising the SRP.
A manufacturer who requested anonymity said that while there were several discussions held on the streamlining of the SRP list, the formal discussions ceased in view of the changes in the leadership of DTI late last year.
“It comes as a surprise that the latest SRP list was released without informing the industry of the status of those discussions. We look forward to hearing their future direction regarding these initiatives,” the manufacturer said.
Meanwhile, watchdog Bantay Bigas has slammed the Department of Agriculture (DA) for not cracking down on retailers who do not abide by the P55 maximum suggested retail price (SRP) on premium imported rice.
Bantay Bigas spokesperson Cathy Estavillo was reacting to the statement of Agriculture Assistant Secretary and spokesman Arnel de Mesa, who said that they will be lenient and allow retailers to sell their old stocks above the maximum SRP.
“This only means that the DA failed to study the policy regarding maximum SRP,” Estavillo told The STAR.
Based on monitoring of the DA in Metro Manila markets, the retail price of imported special rice was sold as high as P60 per kilo despite the P55 per kilo maximum SRP. Max SRP of P55 per kilo took effect on Wednesday.
Meanwhile, the retail price of imported premium rice was sold as high as P58 per kilo.
“The government should go after importers, millers and traders as the retail price of rice remains high despite the 15 percent tariff on imported rice,” Estavillo said.
Estavillo added that authorities failed to penalize traders who are involved in hoarding, smuggling and price manipulation.
Farmers’ group Federation of Free Farmers (FFF) also questioned the formula used to justify the declaration of food security emergency as provided under Republic Act 12078 or the Agricultural Tariffication Act.
FFF national manager Raul Montemayor cautioned the government against loosely interpreting the law to declare a food security emergency, saying this could lead to future abuses.
Montemayor noted that Agriculture Secretary Francisco Tiu-Laurel Jr. invoked a formula used by the National Price Coordinating Council in declaring food security emergency, which says that “an emergency exists” when “the rice inflation has exceeded the upper bound target for food inflation and reached double digits.”
Under RA 12078, the Secretary of the DA may declare an emergency, if there is a supply shortage or an extraordinary increase in rice prices. He can then intervene by releasing buffer stocks of the National Food Authority for sale to government agencies and Kadiwa outlets.
Despite criticisms, Laurel said the implementation of Executive Order 62 will continue until the DA achieves its target of P49 per kilo maximum SRP on imported rice by March 1.
EO 62, which took effect in July 2024, lowered the tariff on imported grains from 35 percent to 15 percent. Tiu Laurel was forced to implement maximum SRP on rice as retail price of imported rice remained high despite the implementation of the executive order. – Bella Cariaso
