No drastic movement in commodity prices, assures DTI Iloilo

2008/03/12

No drastic movement in commodity prices, assures DTI Iloilo

by T. Villavert

Iloilo City (12 March) -- The Department of Trade and Industry (DTI) Iloilo Provincial Office said they have observed no drastic movement in prices of basic commodities except for a few like flour in their price monitoring.

DTI-Iloilo Provincial Director Diosdado Cadena said in a PIA interview that the increase of flour was due to the price and supply of wheat which we import from the US and other countries.

"We do not produce wheat, so we get it abroad plus the fact that the US is experiencing recession, low production or also due to supply problem in other foreign countries where we get our sources of flour," Cadena said.

He said that it is good that our peso is strong and it cushions the costs of importation of materials for manufacture.

"If not for the strong performance of the peso, may be the situation could have been worst," Cadena said.

Meanwhile, President Gloria Macapagal-Arroyo said that "the high price of gasoline and everyday commodities hits our poor the hardest. While the high price of oil is a global issue outside the control of government, we have nevertheless taken and will continue to take actions to reduce the pain on our people of these high prices. We have cut tariffs. We have started providing targeted cash payments to the poorest of our people to help them cope. We ask Congress to enact Consumer Bill of Rights to protect our citizens from price gouging, false advertising and other scams that prey on our people". (PIA)

Cabatuan.com - Kasimanwa.com - Diosdado Cadena Jr.