By Gail Momblan/Philippine News Agency
ILOILO CITY — The Department of Trade and Industry (DTI) in Iloilo has assured its continuous monitoring on prices of commodities in towns under state of calamity due to El Niño.
The towns of Bingawan, Lambunao, Janiuay, Maasin, Santa Barbara, and Mina have already been placed under state of calamity.
Based on DTI Iloilo’s monitoring report, there had been no movement on prices of basic and prime commodities in El-Niño affected towns, said Dorita Chavez, officer-in-charge of DTI-Iloilo’s Consumer Protection Division on Thursday.
She said the DTI Iloilo is working with the local price coordinating council of the said municipalities to “look out for the drastic or abnormal price movements in these towns.”
“If the local price coordinating council monitors abnormal movement in prices, they will immediately inform us and we will study the price movement in their respective towns,” Chavez said.
The relations between the supply and demand can cause the abnormal movement of prices, she said.
“It is because there will be an increased in prices if the town has limited access to supplies,” she said.
As of Thursday, Chavez said there were no reports of shortage of basic and prime commodities in El Niño-affected towns as there was a continuous flow of supply in the market but it was the agricultural products, which were affected.
According to her, it is the local government unit’s discretion to request a declaration of price freeze or price ceiling.
Prize freeze and price ceiling require the study of the history of prices of goods and commodities that “is most beneficial to the consumers”.
However, price freeze also has consequences, she noted.
“If we declare price freeze, there will be disadvantages in the suppliers and retailers. There is a possibility that the supplier will hesitate to bring in products and commodities in the province and thus affects our flow of supply,” she said.
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