ILOILO – The Department of Trade and Industry (DTI) in the province assured the continuous monitoring of prices of commodities in towns under a state of calamity due to El Niño.
These towns include Bingawan, Lambunao, Janiuay, Maasin, Santa Barbara, and Mina.
Based on DTI-Iloilo’s monitoring report, there had been no movement on prices of basic and prime commodities in the El Niño-hit towns, said Dorita Chavez, officer-in-charge of DTI-Iloilo’s Consumer Protection Division.
She said DTI-Iloilo is working with the local price coordinating councils of the affected 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 relationship between supply and demand can cause the abnormal movement of prices, she added.
“It is because there will be an increased in prices if the town has limited access to supplies,” she also said.
As of May 30, there were no reports of shortage of basic and prime commodities in the El Niño-affected towns as there was continuous flow of supply in the market.
According to Chavez, 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 are “most beneficial to the consumers.”
“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,” Chavez said. (With a report from PNA/PN)