price manipulation

THE DEPARTMENT of Trade and Industry (DTI) XI strictly imposed price caps, ensuring no manipulation by unscrupulous traders taking advantage of the situation in quake-hit Davao Oriental.

In a statement, the DTI XI reported that prices of basic necessities and prime commodities remained stable and are within their prescribed suggested retail price (SRP), based on the results of the initial monitoring conducted.

The initial monitoring covered basic products such as canned goods, processed milk, coffee, laundry soap and detergents, salt, instant noodles, and bottled water, in various business establishments in Manay, Tarragona, City of Mati, Baganga, and Caraga. 

“What we did on Oct. 13 was to monitor the status of the business establishments and check the prices of goods to serve as our basis prior to the declaration of the province-wide State of Calamity on Oct. 14,” DTI Davao Oriental provincial director Ma. Joycelyn F. Banlasan said.

The agency reminded the business establishments to comply with the Price Freeze Advisory as issued. 

The compliance of the establishments will be monitored regularly, which will start next week.

“We at DTI will continue to closely monitor the prices of goods in business establishments to prevent overpricing, especially during this difficult time. We also encourage consumers to remain vigilant and report any irregularities to us,” Banlasan stressed.

Following the recent declaration of the province-wide State of Calamity through SP Resolution No. 18-152-10-2025 on Oct. 13, DTI implemented a 60-day price freeze on basic necessities in Davao Oriental. 

The DTI warned establishments found violating the price freeze will be penalized to protect consumers from price manipulation.