By THEPHILBIZNEWS STAFF
In the midst of COVID19 scare that unnecessarily resulted to panic buying, the government through the Department of Trade and Industry (DTI) met with the manufacturers of basic necessities and prime commodities (BNPC), and alcohol and other disinfectants in a meeting today following the surge in demand for these products in light of the coronavirus disease 2019 (COVID-19) outbreak.
The emergency meeting was called to ensure supply availability and price stability of consumer goods in the market.
According to the manufacturers of basic goods, supply is sufficient while regular stocks in their warehouses are good for 1 month more or less, and they can produce more as the need arises.
On rice, the National Food Authority (NFA) assured the DTI that there is sufficient supply in the country.
On retail, supermarket officers of Robinsons, SM and Puregold reported that they hold regular inventory that is good for two (2) months.
Mercury Drug Store mentioned that they maintain a month’s stock of medicines.
On disinfectants, Green Cross Inc. and Philusa Corporation assured the DTI that they have sufficient supply for the coming months and committed to not increase their prices for alcohol brands—Green Cross, Rhea, and Cleene. Both manufacturers said that they are maximizing production to meet the current demand.
Supermarkets and other retail stores agreed with the instruction of DTI Secretary Ramon M. Lopez to strictly implement the “two bottles of alcohol per transaction” policy to limit the purchase of each buyer thereby preventing shortage and the possibility of resale at an overpriced rate.
“Consumers need not worry as we have enough stocks of basic goods in the market. The DTI is working closely with the manufacturers and retailers to ensure the continued flow of supply in the market and reasonableness of prices of basic goods including disinfectants,” says Sec. Lopez.
To ensure the availability of sanitizers, the manufacturers sought assistance from the DTI in coordinating with the Food and Drug Administration (FDA) to fast track the issuance of Certificates of Product Registration for imported disinfectants.
In terms of health and safety measures, retailers are providing disinfectants at the mall entrances and cash registers. Further, security guards are using contactless thermometers to check the temperature of mall-goers to mitigate the spread of the virus.
The meeting was attended by Coca-Cola Femsa Philippines Inc, Alaska Milk Corporation, CDO Foodsphere, Universal Robina Corporation, Century Pacific Inc, Procter & Gamble Distributing Philippines, Inc. San Miguel Purefoods and Beverage, Inc., Phil Leading Infinite Inc, Nature’s Spring, Megal Global Corporation, Nestle Philippines, Unilever, Gardenia Philippines, National Food Authority, Philippine Consumer Centric Traders Association, Inc., Canned Sardines Association of the Philippines, Green Cross, Johnson & Johnson Philippines Inc, Philusa Corporation, SM Supermarkets, JG Summit Holdings, Inc., Puregold, Metro Retail Stores Group of Companies, Inc, Mercury Drug Store, The Generics Pharmacy, and Metro Retail Stores Group of Companies, Inc.
Any business establishments found to have committed any illegal act of price manipulation such as hoarding or profiteering will face a stiff penalty of imprisonment for a period of five (5) years to fifteen (15) years, and will be imposed a fine ranging from Five Thousand Pesos (P5,000.00) up to Two Million Pesos (P2,000,000.00).
Consumers are enjoined to report hoarding, profiteering, panic buying, and any other act of illegal price manipulation through the One-DTI (1-384) Hotline or send an email to ConsumerCare@dti.gov.ph.
