THE government is continuously monitoring the supply of basic necessities and prime commodities to make sure these don‘t run out, Trade Secretary Cristina Roque said on Friday.
Basic necessities are goods vital to sustenance and existence, such as rice, bread, fresh fish, meat, eggs, and potable water, which are essential in emergencies.
Prime commodities are indispensable but not absolute necessities, including flour, onions, garlic, vinegar, soap, and fertilizers.
“We‘ve done inspections on groceries and manufacturing plants, and they have enough food supply to last for 30 days or more,” Roque said to assuage public anxiety on the effects of the war in Iran over the price of basic food items amid soaring fuel costs.
The Department of Trade and Industry (DTI) is in constant touch with manufacturers, Roque said, as ordered by President Ferdinand Marcos Jr.
“We are communicating with them on a daily basis. The manufacturers, [including those of] coffee brands, have assured us that there will be no price increases for the next 30 days,” Roque said, adding that supermarket owners have also pledged to maintain grocery prices.
Some manufacturers said they won‘t increase prices for 60 days, Roque noted.
DTI‘s Suggested Retail Price Bulletin, released February 2025, covers 197 stock-keeping units (SKUs) as a guide for fair pricing.
There have been no reports of hoarding of these items, Roque said.
The DTI‘s Fair Trade Enforcement Bureau (FTEB) handles hoarding cases, profiteering, and price manipulation of basic necessities and prime commodities.
Republic Act 7581 as amended by RA 10623, or the “Price Act,” imposes penalties for acts of illegal price manipulation during emergency situations and crises.
Violators can be fined P5,000 up to P2 million, as well as imprisonment of five to 15 years.
Consumers must keep an eye on the prices of basic necessities and prime commodities, Roque said.
