DTI exec discounts price hikes for Noche Buena items

MANILA -Trade and Industry Undersecretary Zenaida Maglaya on Thursday said that prices of commodities are not expected to pick-up during the Christmas season as supply remain sufficient.

“I know that we have sufficient supply and SRPs (suggested retail prices) are already out. And I know there wouldn’t be much increases that we foresee,” she said.

Maglaya said officials of the Department of Trade and Industry (DTI) had met with suppliers of Noche Buena products “and they have assured the Department that we have sufficient supply.”

She explained that prices of commodities normally increase when there were not enough supply, thus, with the assurance of producers of dairy products and canned goods, among others, she discounted price hikes.

She cited that if ever prices would increase it should be starting now since delivery to retail outlets are on-going in time for the holidays.

Asked about the Department of Agriculture’s (DA) recent decision to cancel all import permits for meat and plant products to prevent smuggling, Maglaya said this was not expected to increase prices of the affected commodities.

She said DA has assured DTI of enough supply of meat, fruits and vegetables.

“As they look at the consumption requirement they have said that we have more than enough and we are banking on that,” she added. Joann Santiago/PNA-northboundasia.com