Philippines announces price freeze on basic goods amid COVID-19 'calamity'

A price freeze for basic commodities will be in effect until May 15, Trade Secretary Ramon Lopez announced Wednesday.

Under the Joint Memorandum Circular of the Department of Trade and Industry (DTI), Department of Agriculture (DA), and the Department of Health, the price freeze covers all persons, including those who sell through the internet or other media.

“Under the declaration of a state of public health emergency on March 8, prices of basic necessities were automatically frozen,” the memorandum read.

The implementing agencies will form a composite team to intensify monitoring and enforcement of the price freeze to prevent profiteering and hoarding.

Local price coordinating councils will also be mobilized to enforce the order.

Under the memorandum, implementing agencies can also recommend a price ceiling for basic commodities “should the existence or effects of COVID-19 continue to persist beyond the 60-day period.”

The agencies warned that any person or entity found violating the Price Act will be fined between P5,000 and P2 million and face imprisonment between five and 15 years.

Agriculture Secretary William Dar said that the suggested retail price for basic goods are as follows under a February 20 circular of the DA:

• Pork (pigue/kasim) – P190
• Chicken (whole, dressed) – P130
• Sugar (raw, brown) – P45
• Sugar (refined) – P50
• Bangus (cage-cultured) – P162
• Tilapia (pond-cultured) – P120
• Galunggong (imported) – P130
• Garlic (fresh) – P70 imported
• Garlic – P120 local
• Red onion (fresh) – P95

-- BAP, GMA News