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Articles by Price Act
DTI: No need for price freeze on bottled water
MANILA, Philippines — A price freeze on bottled water is not necessary for now as prices remain stable, Department of Trade and Industry (DTI) Secretary Cristina Roque said yesterday. “For now, there is none. There is no need because the prices of basic necessities and prime commodities, bottled water included, are all stable and no price increase,” Roque said.
Onion ‘cartel’ fined P1.76B
THE Philippine Competition Commission (PCC) has imposed a P1.76-billion fine on members of a cartel linked to the surge in onion prices in 2022. The sanctioned firms include Golden Shine International Freight Forwarders Corp., Tian Long Corp., La Reina Fresh Vegetables & Young Indoor Plants, Inc., Yom Trading Corp., and their officials Mark Castro Ocampo, Nancy Callanta Rosal, Lilian Cruz, Eric Pabilona, Renato Francisco Jr. and Letty Baculando.
Lingayen placed under state of calamity
MANILA, Philippines — The capital of Pangasinan was placed under a state of calamity yesterday as the enhanced southwest monsoon and tropical cyclones Luis, Maymay and Neneng caused widespread flooding and damage to the province. Headed by Vice Gov. Mark Ronald Lambino, the Sangguniang Panlalawigan (SP) approved Provincial Resolution 985-2026 during a special online session declaring Lingayen under a state of calamity.
Price freeze remains in 3 Central Luzon provinces
SAN FERNANDO, Pampanga, Philippines — Retailers and consumers in Bulacan, Pampanga and Zambales have been reminded that a price freeze on basic necessities remains in effect in areas under a state of calamity. The Department of Trade and Industry (DTI)-Central Luzon said the price freeze covers the entire province of Pampanga and parts of Bulacan and Zambales that were severely affected by flooding.
DA warns of stiff penalties for imported rice price ceiling violation
The Department of Agriculture (DA) warned rice retailers, traders, and importers that violators of the government’s newly imposed price ceiling on imported rice could face jail time, million-peso fines, and even business closures under the Price Act. President Ferdinand Marcos Jr. ordered a 30-day price ceiling on imported 5 percent broken rice to curb what officials described as unjustified retail prices despite easing global rice costs and reduced import tariffs.
DA to step up price monitoring to keep food prices fair, stable
Agriculture Secretary Francisco P. Tiu Laurel Jr. said the Department of Agriculture (DA) will step up this year the monitoring of prices in wet markets, particularly in major urban centers across the nation, as part of a tougher push to keep food prices fair and stable, warning retailers that unjustified price hikes will not be tolerated.
DA FORMS GROUP TO ENFORCE AGRI PRODUCTS PRICE ACT — IKOT.PH
Agriculture Secretary Francisco Tiu Laurel, Jr. has formed a Technical Working Group (TWG) tasked to draft the rules and regulations to implement Section 9 of the Price Act relating to agricultural products. The Price Act, or Republic Act 7581, was enacted to stabilize the supply and prices of basic necessities and prime commodities, to safeguard consumers against unreasonable price hikes and ensure fair practices within the market.
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