TRADE Secretary and National Price Coordinating Council (NPCC) Chairman Ramon M. Lopez is warning retailers and vendors in Iligan City not to take advantage of the crisis in neighboring Marawi City, and observe the prevailing price freeze in the Mindanao region following the declaration of martial law in Marawi City.
In a message to reporters on Monday, Lopez said he and Trade Undersecretary for Consumer Protection Teodoro Pascua conducted a price inspection in Iligan City and found the prices of prime commodities, specifically rice, remain stable.
Even so, Lopez reiterated that as the region remains under martial law, any upsurge in prices is “considered illegal and, therefore, violators and profiteers will face appropriate sanctions.”
Officials of the Department of Trade and Industry (DTI) were initially informed that rice was being sold at P100 per kilo—double the standard retail price—in Marawi City and adjacent areas amid an ongoing firefight between government forces and the Maute Group.
Lopez said there will be consistent price monitoring for both basic and prime goods under the DTI and rice under the Department of Agriculture, as well as the sustained flow of supply to prevent price increases in Iligan City.
In a text message to the BusinessMirror, Pascua said NFA rice remains at P27 per kilo and the prices of other commercial rice varieties continue to range between P36 and P50 per kilo.
“Prices are still within range, and supply is from two weeks to three weeks to a month,” he added.