The Department of Trade and Industry (DTI) Bohol office released its latest price bulletin dated Feb. 8, 2023 which is a follow up of the price bulletin that was posted in Aug. 2022.
After more than six months, the DTI saw it fit to issue another price bulletin due to rising commodity prices as a result of increasing cost of packaging and of some raw materials. The prices of commodities are also impacted by the conflict between Russia and Ukraine, including the gas prices, according to Joe Hibaya, the DTI Bohol’s consumer protection division chief.
The bulletin is published in this week’s issue and can be found on page 3.
Hibaya explained that under the Price Act, the DTI is mandated to monitor the basic and prime commodities being sold in groceries and supermarkets.
Moreoer, the DTI is mandated to conduct a weekly monitoring of the prices of basic and prime commodities. The agricultural products are being monitored by the Department of Agriculture, but the DTI also has a parallel monitoring.
Hibaya listed the basic commodities under the agency’s watch to include canned sardines, processed milk, coffee refill, coffee 3-in-1 products, bread, instant noodles, detergent bars, salt, bottled water and candles.
Moreover, the prime commodities being monitored by the DTI are canned meat products, condiments, toilet soaps, and batteries.
He said that the price adjustments were considered to take into account the cost of manufacturing and logistics concerns.
Out of the 270 stock keeping units (SKU) monitored by DTI only 76 SKUs have increased in prices, Hibaya said in an interview over “Newsmakers ug Uban Pa” on Feb. 15, 2023, hosted by Ardy Araneta-Batoy and Dave Albarado.
An SKU is the distinct type of an item for sale in a marketplace.
“Dili tanan nga prime and basic commodities nag increase sa ilang presyo. Pipila lamang ka produkto kada klase ang gitagaan ug approval for the increase nga gerequest from the manufacturers’ side,” Hibaya said.
Hibaya explained that canned sardines with 16 SKUs only 5 SKUs were allowed to increase the suggested retail prices (SRP).
Furthermore, for processed milk out of 14 SKUs only 5 SKUs were allowed to hike the SRP.
As for coffee refills, out of 6 SKUs, only 2 SKUs were allowed to have an SRP adjustment.
For instant noodles, there are 4 SKUs and only 1 SKU was allowed by the DTI to have an SRP increase, Hibaya said.
Hibaya quipped as far as detergent bars are concerned, there are 14 SKUs and onli 8 SKUs were allowed to adjust their SRP.
Hibaya said that there are 23 canned meat product SKUs and only 12 SKUs were given the go signal to increase their SRP.
For condiments, there are 20 SKUs and onli 3 SKUs were alllowed by the DTI to increase the SRP. Likewise for toilet soap, there are 7 SKUs monitored and only 2 SKUs were given the go signal to adjust their prices.
For batteries, there are 6 SKUs and onli 1 SKU was given the permission to make a price adjustment.
In closing, Hibaya urged the public to report any violation of the implementation of the SRP to the DTI office based in Tagbilaran City.