Prices of agricultural products now down to most reasonable level – DTI

DTI Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo

MAKATI CITY – In its monitoring Jan. 10 at the Commonwealth Market and various supermarkets in Quezon City, the Department of Trade and Industry (DTI) found that prices of agricultural products dipped to its most reasonable level while manufactured basic necessities and prime commodities are pegged at their Suggested Retail Prices (SRPs) or even lower.

The decline in the prices of agricultural products such as pork, vegetables, and fish ranges from P5.00 to P50.00. Chicken, in particular, is sold at P100 per kilo which is P45.00 lower than the 09 January 2019 published prevailing prices of the Philippine Statistics Authority (PSA). In the supermarkets, chicken is priced even lower at P90.00 to P99.00 per kilo, varying whether or not it is branded.

β€œThe DTI is very pleased to see that prices of agricultural products are now at its most reasonable level where consumers are assured to get value for their money, and fair return of investment for the retailers,” said DTI Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo.

The Commonwealth Market sources directly from producers thus its very reasonable prices. The DTI encourages consumers to purchase agricultural products from said market. Retailers, on the other hand, may also take advantage of the low prices. Undersecretary Castelo explains, β€œSince Commonwealth Market removed the middle players from the supply chain, they are able to sell agricultural products at very low prices. Those retailers who do not have direct link to producers may source their products from Commonwealth Market and sell these at the SRP level. In this way, they sell at affordable prices to consumers while gaining reasonable profit.”

On sugar, it was announced by the Sugar Regulatory Administration (SRA) that its proposed SRP for refined sugar is P50.00 per kilo while P45.00 per kilo for brown sugar. The DTI is pleased to see some major supermarkets such as Robinsons and SM already selling sugar at their set SRPs. But for those selling above these prices, the SRA will coordinate with the retailers to get information on their sources to determine the reason behind the high prices. The DTI enjoins the consumers to report any price and supply-related concern to the 1-384 (1-DTI) Consumer Care Hotline or [email protected] email.