Latest Stories

Prices to stabilize soon, say officials


Trade Secretary Gregory L. Domingo. Photo from dti.gov.ph

MANILA, Philippines—Increases in the prices of basic commodities like rice, fish and vegetables are only “temporary” and are expected to normalize soon, government agencies said on Saturday.

Price monitoring by government agencies in Pasay City showed the price of premium commercial rice rose by P2 a kilo, while the prices of regular and premium NFA rice remained at P27 and P32, respectively.

Agriculture and trade officials, however, could not immediately point to the cause of the price hike.

Agriculture Director Leandro Gazmin said the prices of some vegetables like cabbage, Baguio beans, pechay and onions may have risen due to reduced deliveries. Truck deliveries from Benguet were reportedly affected by the flooding brought by the intense monsoon rains and Tropical Storm “Maring.”

“We see temporary price increases in fish and vegetables, the problem is not in the supply but in the distribution. Once the flooding subsides the prices will normalize,” Gazmin said.

The agriculture official said the prices of sea-harvested fish such as alumahan similarly increased due to the difficulty of catching fish during Maring.

According to a price list provided by the Bureau of Agricultural Statistics, the cost of one kilo of alumahan rose last week by P40, or from P120 a kilo to P160.

Trade Secretary Gregory L. Domingo reported that the prices of other basic goods like bread, sardines and noodles remained stable.

“There was no movement in the price of dry goods such as canned goods, bread and noodles. The manufacturers of dry goods guaranteed us that they would not increase their prices and would ensure the adequate supply of goods in the market,” Domingo said.

Prices of chicken, pork and farm-harvested fish products like bangus and tilapia also remained steady.

According to Domingo, Diskwento Caravans will be organized in areas affected by Maring to provide these communities with a cheaper source of basic goods. Discounts range from 10 percent to as high as 40 percent.

Domingo warned unscrupulous traders that those who violate the price freeze in areas placed under a state of calamity without adequate justification for their price movements will be slapped a fine of up to P1 million and/or imprisonment of up to 10 years.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: basic commodities , Fish , Gregory Domingo , Leandro Gazmin , price monitoring , Prices , tropical storm maring , vegetables

  • Kronos2

    Mr Domingo, please don’t say that prices will stabilize soon because so long as the price of oil which we don’t control goes up, prices will go up nevertheless. Never guarantee the result if you don’t control the variables involved.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace