Agriculture Secretary Emmanuel Piñol yesterday signed an administrative circular setting suggested retail prices for eight basic food items in Metro Manila.
DA will immediately begin the implementation of SRPs for regular milled rice (R39 per kilo); medium- to big-sized milkfish or bangus (R150 per kilo); medium-sized tilapia or St. Peter’s Fish (R100 per kilo); medium-sized galunggong or round scad (R140 per kilo); red onion (R95 per kilo); white onion (R75 per kilo); imported garlic (R70 per kilo); and local garlic (R120 per kilo).
Piñol said the prices of these commodities should not go beyond 10 percent of the SRP as there will be sanctions against traders who would sell their products beyond the SRP.
The SRP for selected basic necessities and prime commodities was validated and set during a consultation meeting with private and public stakeholders last June 22.
Piñol said SRPs for basic commodities will also be implemented in other areas in the coming days to prevent a further surge in prices of basic goods due to the Tax Reform for Acceleration and Inclusion Act.
Section 10 of the Republic Act 7581 or the Price Act of 1992 provides that the head of the implementing agency may from time to time issue suggested reasonable retail prices for any or all basic necessities and prime commodities under his jurisdiction.
The Price Act was promulgated to ensure the availability of basic necessities and prime commodities at reasonable prices at all times.