DTI notes ups and downs in prices of commodities
There’s good news and bad news about prices of commodities in the province.
A slight increase in prices of some basic commodities was monitored but a decline in the prices of flour, cement, and steel bars were noted by the local Department of Trade and Industry (DTI) as well during the week.
This was gleaned from the price monitoring analysis of the DTI as of August 1 obtained by The PUNCH.
The analysis also showed that market prices of sardines, detergent bars/soap, rock salt, processed canned pork, fish sauce (patis) and G.I. sheet increased by an average of 7%.
Samples cited the 555 sardines brand pegged last month at P11.20 was higher by 80 centavo; Mr. Clean detergent bar’s P16.80 was already being sold at P17.85; a kilo of rock salt, at P14 was already being sole at P15.
A G.I.sheet (gauge 26) now costs P3 more, from its last months’ price of P52 per linear feet.
“Price increase can be attributed to the high price of raw materials and increase in production cost e.g. rise of transportation cost, electricity, and others. Raw materials of G.I. sheet are being imported from abroad.
Likewise, the raw materials for packing sardines and pork/beef in tin can are sourced from abroad.
However, the P930 price of hard flour (25 kilograms/bag) last month is now lower by P50 while soft flour (25 kilograms/bag) from P860 price last month is now P840.
The price of cement(Portland,40kg) decreased by three pesos from P178 to P175 per bag while steel bars(10mm) decreased by P15 from P232 per piece to P217 this month, and the 12mm steel bars now sells P313 which is lower by P21 as compared to its price last month.
The decrease of the prices of hard and soft flour was due to the decrease in price of wheat in the world market. The same is noted for the price of cement and steel bar. – CSR
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