DA to also impose SRP on basic food items in regional areas
After Metro Manila, the government is now eyeing regional areas where to impose suggested retail prices (SRP) on basic food items.
On Monday, Agriculture Secretary Emmanuel Piñol signed an Administrative Circular setting SRP for eight agricultural and fishery commodities in the wet and public markets of Metro Manila.
The SRP sets a base number which will be used in determining whether traders and vendors are involved in Profiteering because the law says that prices could not go higher by 10 percent of the SRP.
“The SRP is aimed at protecting consumers from unscrupulous traders and vendors who speculate on the prices because of perceived effects of market-influencing issues like an increase in Oil price or more specifically, the implementation of the TRAIN Law recently,” Piñol said.
However, the SRP set so far will only be applicable in Metro Manila wet and public markets.
Piñol said the DA will start collating market data in regional urban centers like Cebu, Dagupan, San Fernando, Baguio, Naga, Iloilo, Bacolod, Cebu, Zamboanga, Cagayan de Oro, General Santos and Davao City so that the SRP program could also be implemented in these areas.
This, as he noted that the SRP set in Metro Manila could not be used as the basis for the regional SRP because of the difference in the pricing of commodities, which may be produced in abundance in a specific area like vegetables in Baguio or fish in General Santos City.