D.A., DTI conduct special price monitoring in local markets
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NewsTranscript
00:00The Agriculture Department reported a drop in basic commodity prices at the Mega-Q mark.
00:06The agency says that it will monitor rice prices over a two-month span to possibly implement further reductions
00:14and is also tightening its monitoring of compliance to the MSRP for pork.
00:19Vel Custodio has the details.
00:23The Department of Agriculture or DA and the Department of Trade and Industry or DTI
00:28conducted a special price monitoring and Mega-Q mark in a supermarket this morning.
00:34According to DA, the price of basic commodities have dropped, particularly in imported rice,
00:39which the Php 45 maximum suggested retail price implementation begins today.
00:44When we talked to SECROC and the sellers of pork, fish, and rice,
00:50they said that consumers are buying more because the price of rice is going down.
00:56Even though Grocery doesn't implement MSRP, rice prices also decreased.
01:01Before, the price of rice used to go up.
01:05Now, it's really gone down to Php 40 to Php 45.
01:09Before, it was Php 58. Now, it's Php 58.
01:12So, the price of rice has really gone down.
01:15DA will conduct a two-month assessment to see if it can be further lowered to Php 42
01:20without incurring profit loss for rice retailers.
01:23Meanwhile, compliance with the pork MSRP reached almost 30% since it was first implemented on March 10.
01:30The Agriculture Department and pork stakeholders are holding a meeting to identify any compliance issues.
01:36DA will tighten its monitoring on compliance to the consolidated Php 230 farmgate price for pork.
01:41The department also set up a meeting with garlic importers to discuss ways in lowering the price of garlic.