Gov’t to crack down on hoarders, profiteers

The Department of Agriculture (DA) will begin implementing suggested retail prices (SRP) on selected agricultural commodities to protect consumers against price irregularities in markets.

The circular, which takes effect in all Metro Manila markets beginning today (Feb. 24), will cover pork at an SRP of P190 a kilo, whole and dressed chicken (P130), raw and brown sugar (P45), refined sugar (P162), cage-cultured bangus (P162), pond-cultured tilapia (P120), imported galunggong (P130), imported garlic (P70), local garlic (P120) and imported red onion (P95).

Agriculture Secretary William Dar said the implementation of an SRP circular under the Price Act was prompted by “hoarding and profiteering activities of unscrupulous traders and cartels who manipulate for their advantage the supply, distribution, marketing and prices of basic agrifishery goods.”

“In setting up the SRP for selected food items, we will ensure the availability of basic necessities and prime commodities at reasonable prices at all times, without denying legitimate business a fair return on their investments,” he added.

Based on the agency’s daily price monitoring report covering 10 public markets in Metro Manila, most commodities under the new SRP list were being sold at higher price points. For instance, in San Andres market, a kilo of chicken was sold at P150, bangus at P180, galunggong at P240 and imported garlic at P160.

Other markets followed the same trend although with varying mark-ups, including Pasig City mega market, Commonwealth market, Mega Q-Mart, Muñoz market and Marikina public market.

Under the circular’s implementing rules and regulations, the DA will determine, recommend and enforce price ceilings when necessary. Traders and retailers who sell beyond the 10-percent margin allowed on the corresponding price points face jail terms and fines of up to P1 million. Those selling without price tags, misrepresented weight or measurement, or have adulterated and diluted products will also be prosecuted.

The agency will be working with the Department of Trade and Industry and local government units to strictly monitor prices in public markets on a regular basis and impose sanctions on erring retailers.

Earlier this month, Dar noted that there was an increase in the price of poultry and pork during the Christmas season and that prices have not returned to normal despite the end of the holidays.

He added that some traders continued to take advantage of the recent unrest of Taal Volcano to charge higher prices.

“We warn unscrupulous and heartless businessmen, traders and retailers who take advantage of their countrymen. Rest assured that the guilty profiteers will not go unpunished in accordance with the law,” Dar said. INQ