THE Department of Trade and Industry (DTI) has issued the suggested retail prices (SRPs) of Noche Buena products to guide consumers during the holiday season. “The SRPs are provided by manufacturers to set retail prices of products. With the published SRPs, consumers are guided on whether the goods sold are overpriced or above the profit margin,” DTI Consumer Protection Group Undersecretary Victorio Mario A. Dimagiba said.
In a statement released on Wednesday, Dimagiba said the trade office is increasing vigilance in market-monitoring activities, especially for Noche Buena items to keep prices and supplies within the SRPs as the Christmas season nears.
Anecdotal evidence point to the Philippines as having the longest celebration of the Christmas season beginning September and paused only during the first two days of November.
Dimagiba said they issued the SRPs this early “to prevent manipulation of traders looking to take advantage of seasonal price hikes.”
“Noche Buena” products include: ham, fruit cocktail, cheese, sandwich spread, mayonnaise, keso de bola, pasta spaghetti, elbow and salad macaroni, spaghetti sauce, tomato sauce, and, cream.
For the DTI, a list of SRPs serves as the widely published prices of certain products to inform consumers and retailers.
DTI’s report of the SRPs of Noche Buena items notes price increases and decreases of certain brands of noche buena food items.
New brands of Noche Buena products have also been put under the SRP scheme, allowing consumers to have a wider variety of choices.
The SRP list on prices of Noche Buena items will be published in the trade department’s website as well as in major newspapers, Dimagiba said.
The DTI maintains an SRP verification program to double check if the product prices in the market are reasonable. The DTI requires the manufacturers of basic necessities and prime commodities to quarterly submit their product SRPs whether there are price changes or not.
If the manufacturers have plans to change their SRPs, they are required to submit these changes a month prior to their effectivity dates together with their reasons and justifications, according to Dimagiba.
Catherine Pillas