DTI-Davao Cracks Down on Retailers Exceeding Price Limits
The Department of Trade and Industry-Davao Region (DTI-Davao) has announced strict measures against retailers who price goods more than 10 percent above the suggested retail price (SRP). According to Romeo Vasquez Jr., chief of DTI-Davao’s Consumer Protection Division, weekly monitoring identifies products that exceed this threshold, prompting the agency to send a Letter of Inquiry (LOI) to the retailers involved.
Enforcement and Penalties for Violations
Vasquez explained that retailers must respond to the LOI within 48 hours to justify their pricing. If the explanation is deemed unsatisfactory, DTI-Davao may issue a Notice of Violation and impose penalties ranging from P5,000 to P2 million. In severe cases, this could include the cancellation of business permits, emphasizing the agency's commitment to consumer protection.
During the Kapehan sa Dabaw forum on Monday, Vasquez reassured the public that prices and supplies of necessities and prime commodities remain generally stable, with no significant increases in fuel prices observed. He attributed minor SRP deviations, typically under P1 per product, to logistics and delivery costs affected by rising fuel prices. For instance, a 155-gram sardine brand with an SRP of P20.50 is sold at P20.85, while a 150-gram beef loaf priced at P21.75 retails for P22.20.
Stability in Retail and Manufacturer Commitments
Vasquez noted that panic buying, hoarding, and profiteering have not been reported, and retail stores currently have sufficient stock to last approximately three months. This stability is partly due to recent commitments from manufacturers of basic goods. Following a March 16 meeting between DTI Secretary Ma. Cristina Roque and over 21 producers, these manufacturers pledged not to raise prices for at least 30 days.
Products covered by this no-hike pledge include canned sardines, bread, bottled water, instant noodles, coffee, canned meat, soap, and candles. Participating brands span a wide range, such as Unipak, 555, Ligo, Lucky 7, Fresca, Morjon, Golden Town, and Mega for canned sardines; Pinoy Tasty and Pinoy Pandesal for bread; Wilkins and Nature’s Spring for bottled water; Safeguard Pure White, Tide Bar Original Scent, and Green Cross Pure White for toilet and laundry soaps; Datu Puti for vinegar and soy sauce; Lorins for patis; CDO for processed canned meat; and Liwanag for candles.
Additionally, some brands have extended their commitments to maintain prices for up to 60 days. These include Lucky Me, Ho-Mi, Argentina, Lucky 7, 555, Swift Premium, Wow!, and Shanghai. Coffee brands like Kopiko, Nescafé, and San Mig Coffee 3-in-1, along with Export candles, have also pledged to keep their current prices unchanged, further supporting market stability.
