HomeNewsPrices of commodities in ZC stable - LPCC

Prices of commodities in ZC stable - LPCC

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Prices of commodities and products in the City remain stable, the Local Price Coordinating Council (LPCC) reported Tuesday afternoon.

In their first quarter meeting for the year, the LPCC disclosed that prices for basic and prime commodities are playing within their suggested retail prices, and that market competition in the City is healthy.

In terms of supply, the LPCC reported a stable and sufficient supply of basic and prime commodities in the City.

Based on the price monitoring conducted by the Department of Trade and Industry (DTI) from January to March 20, 2017, the prevailing prices for commodities like canned sardines, meat loaf, corned beef, flour, and bottled water remained within 10% tolerance versus their approved suggested retail prices (SRPs).

Prices of some canned condensed and evaporated milk products will be slightly higher as effective March 1, 2017, their SRPs were raised to accommodate the increase in the price of imported raw materials needed for production. Powdered filled milk, however, remain within the 10% tolerance SRP range.

The prices of agricultural and farm products have also remained stable. According to the report of the Philippine Statistics Authority (PSA), there have been no significant price changes, and the slight fluctuations all fall within the allowable range for agricultural and farm product prices.

From January to February 2017, regular milled rice registered an average price of P 35.00, well-milled rice at P 38.40, while premium and special rice was pegged at P 48.40 and P 48.42, and P 51.00 and P 51.07, respectively.

For vegetables, the average price of carrots for January and February was at P 79.54 and P 80.17; sweet potatos registered average prices of P 31.85 and P 31.25, white potato at P 84.46 and P 73.83.

Garlic prices for January and February averaged at P 166.38 and P 164.50, while red onions and white onions were priced at P 81.23 and P 79.60, and P 80.31 and P 74.00, respectively.

The Local Price Coordinating Council (LPCC) of Zamboanga convened at City Hall Tuesday, March 21, to report on its price monitoring efforts of local commodities. Joining the meeting were representatives of the Department of Trade and Industry, the Department of Agriculture, the Bureau of Fisheries and Aquatic Resources, the Department of Environment and Natural Resources, the Philippine Statistics Agency, and the local Consumer Group. (Jasmine Mohammadsali)