DTI expands list of goods with SRP, adjusts prices

THE DEPARTMENT of Trade and Industry (DTI) has added more items in its suggested retail price (SRP) list for manufactured basic necessities and prime commodities.
In statement on Friday, DTI said there are now 241 shelf keeping units (SKUs) or product variants in the list, which took effect this month.
The SRP list also now covers Visayas and Mindanao in the monitoring for Salinas (IM) Corp.’s iodized salt under the Fidel brand.
Meanwhile, seven brands of canned sardines, evaporated milk, corned beef, detergent soap, and toilet soap have adjustments in their SRP.
“The DTI thoroughly reviewed the new SRPs and made sure that there is basis for the changes. All commodities with adjusted SRPs have not changed their prices in years,” DTI-Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo said in the statement.
“This latest SRP will remain in effect for the next three months, or until 01 December 2018, following manufacturers’ affirmation to DTI’s appeal for price increase hold-off,” she said.
HOLIDAY FEAST
The agency also emphasized that the expanded SRP list is different from the one that would cover Noche Buena products, or those used for the Christmas and New Year celebrations.
The list with holiday goods is usually released every October or November.
“The DTI is set to meet with the manufacturers of said commodities in time for the preparation and release of its new SRPs,” the DTI said.
Under Republic Act No. 7581 or the Price Act, DTI disseminates the SRP list for the information and guidance of producers, manufacturers, traders, sellers, retailers, and consumers.
Meanwhile, DTI said that it has intensified its price monitoring efforts, expanding its coverage from 400 to 600 firms in the National Capital Region, and an additional 500 firms in the other regions.
From this coverage, DTI has issued 127 letters of inquiry to firms found selling above the SRPs.
DTI has also suggested that retailers fill their shelves with “wider choices of reasonably-priced basic and prime goods.”
In addition, DTI called on manufacturers and importers of non-agricultural basic and prime goods to bring in more non-premium brands to provide consumers with more choices of lower-end SKUs. — Janina C. Lim