DTI to keep eye on prices of basic goods in areas hit by Ruby

By , on December 8, 2014

Wikipedia Photo
Wikipedia Photo

MANILA, Philippines – Trade Secretary Gregory Domingo said that the Department of Trade and Industry (DTI) is stepping-up its measures to monitor prices of basic and prime commodities in hit by Typhoon Ruby.

Domingo added that the DTI has commissioned monitoring teams to the National Capital Region and Regions 6, 7 and 8 in order to secure the stability of prices, and the flow of basic goods in the affected areas.

“We have already alerted all our price monitors in the NCR and in the regions and provinces that will be hit by typhoon Ruby to intensify their price monitoring activities to ensure that prices of basic and prime goods are kept at reasonable levels,” he said.

Retailers caught in the act of profiteering and hoarding slapped with show-cause orders by the DTI.

Domingo noted, however, that they have “received positive feedback from the distributors and manufacturers.”

“They (distributors and manufacturers) assured us that there is enough supply of goods in the market, and that more stocks are ready to be delivered as soon as replenishment is needed,” he said.