MANILA – The Department of Trade and Industry (DTI) has ramped up its nationwide price monitoring efforts to ensure that regular and well-milled rice remains accessible to Filipino families at PHP40 to PHP45 per kg.
In a news release on Thursday, DTI Secretary Cristina Roque noted the importance of rice, being a staple for Filipino families.
“We will not tolerate any attempts to exploit the public by manipulating its price,” she said.
Roque highlighted the agency’s commitment to protecting consumers, warning against hoarding, price manipulation, or any violation of fair trade laws.
“Our monitoring teams are actively inspecting markets across the country to ensure compliance with fair trade laws. We will not hesitate to impose fines, closures, and other penalties on those found to be non-compliant,” she stressed.
The intensified rice price monitoring is being done in coordination with the Department of Agriculture (DA) and aims to ensure strict compliance with Republic Act (RA) 7581, also known as the Price Act, as amended by RA 10623, and prevent any attempts at hoarding or price manipulation.
The law safeguards consumers against unreasonable price increases and aims to prevent exploitation during times of supply disruptions or emergencies.
“Through our whole-of-government approach, we are working tirelessly to build a secure and prosperous Bagong Pilipinas where no one is left behind,” Roque added. (PNA)