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DTI: Prices, supplies in Iligan City stable

The Department of Trade Industry (DTI) said prices and supplies of commodities, especially rice, remain stable in Iligan City.

This is after reports noted that prices of rice shoot up around Php 5,000 per 50-kilogram sack amid price freeze following the martial law declaration in Mindanao.

“Rice supply is okay and price within guarded price freeze,” DTI Undersecretary Teodoro Pascua told the Philippine News Agency in a text message.

Pascua is with DTI Secretary Ramon Lopez in Iligan City to monitor supplies of goods and ensure that prices remain steady.

In a text message to reporters, Lopez said the department did not see retailers selling 50-kilogram sack of rice at Php 5,000-level.

“In many stores in Iligan public markets, they have NFA rice at Php 27 per kilo and commercial premium rice ranging from Php 39 to Php 51 per kilo. And they have not increased prices for weeks, even compared to pre-martial law period. And have checked their inventories, [it’s] good for three to five weeks,” Lopez noted.

He added that NFA will bring in Bigasan ng Bayan in Iligan City to ensure supply and stable prices of rice in the area.

“Mindanao still under Martial Law, any upsurge in prices in the region is considered illegal and therefore violators and profiteers will face appropriate sanctions,” said Lopez, who is also the chairman for National Price Coordinating Council.