The price of agricultural products sold in markets around Metro Manila were declared at its most reasonable on Thursday by the Department of Trade and Industry (DTI) announced on Thursday.
In addition, manufactured basic necessities and prime commodities were also declared closest or even lower than the suggested retail price (SRP), the trade agency said.
The decline in products such as pork, vegetables and fish in particular ranged from P5 to P50. Chicken is sold at P100 per kilo, lower by about P45 than the Philippine Statistics Agency’s published prevailing prices on 9 January.
Chicken is sold at lower prices in supermarkets. At Robinson’s Supermarket, SM Supermarket and Puregold, unbranded and branded chicken is sold for a price range of P90 and P99 per kilo.
“The DTI is very pleased to see that prices of agricultural products are now at its most reasonable level where consumers are assured to get their money, and fair return of investment for the retailers,” DTI Consumer Protection Group Undersecretary Ruth Castelo said.
According to the DTI, the Commonwealth market in particular sources directly from producers, hence its more reasonable price for consumers.
“Since 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. This way, they sell at affordable prices to consumers while gaining reasonable profit,” Castelo added.
SRP for sugar was down to P50 per kilo for refined sugar and P45 per kilo for brown sugar, as set by the Sugar Regulatory Administration (SRA).
“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 trade agency said.