DTI assures manageable commodity prices in Davao
By CARINA L. CAYON
DAVAO City — An official of the Department of Trade and Industry here assured that prices of basic commodities in Davao are still manageable and DTI keeps a tight watch on the movement of prices for the coming holiday season.
DTI regional director Marizon Loreto said that as of Tuesday night, she monitored a downward trend of prices in almost all products.
Loreto attributed the price decrease to the competition among traders who mostly sell similar products.
She said local traders are offering their products in sets or packages with free items. This is a form of product promotions which customers anticipate especially during Christmas season, she said.
Loreto said DTI monitoring teams are vigilant on the prices of the basic goods, Christmas items and construction materials.
In the implementation of the suggested retail prices (SRPs) as of November 03, 2011, Loreto clarified that SRP only covers Noche Buena products such as hams, cheese, mayonnaise, sandwich spread, elbow and macaroni pasta and spaghetti sauce.
The DTI official said that if an increase would be effected, the mark up would be minimal at the rate of P5 to P10, to cover for the promotion and freight costs.
Loreto said DTI has not yet received any report of local traders violating the SRP.