The surge in prices of commodities and construction materials here are not simply the result of the local supply and demand in the aftermath of the super Typhoon ‘Cosme’.

According to local traders, prices of construction materials have dramatically soared because suppliers in Manila have began selling at higher prices.
        

Peter Mangabat, provincial director of the Department of Trade and Industry (DTI), reported to the Dagupan City council last Tuesday that they have arrested five business establishment owners, one in Calasiao town and four in Dagupan, for what was believed to be exorbitant price increases on their goods. The traders, however, defended their sudden adjustment owing to new and higher quotations from their suppliers.

Galvanized iron (G.I.) went up by as much as 42.86 percent over a month period beginning May 17 when Typhoon Cosme hit the province, according to the monitoring records of the DTI.

Ten-millimeter steel bars had increased by 31.61 percent while the 12-mm hiked by 32 percent.

Prices of nails and steel wires also rose by as much as 26.98 percent, Mangabat said.

Mangabat acknowledged that price increases in construction materials have also been noted in other parts of the country even as he pointed out that there is a price increase in construction materials globally, particularly steel based products, due to scarcity of raw materials coupled by an increased demand from China following the earthquake in Sichuan province and the forthcoming Olympics

Nonetheless, Mangabat said they have alerted the DTI head office in Manila as prices can increase by only as much as 10%.

Councilor Jesus Canto earlier passed a resolution appealing to establishment owners to keep prices at bay as many people affected by Cosme need to rebuild their homes.#

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