PRICE MONITORING – A shopper buys basic goods at a supermarket in Manila in this INQUIRER file photo. / MARIANNE BERMUDEZ
CEBU CITY, Philippines –The Cebu City Council has approved a resolution aimed at protecting consumers from potential price manipulation on essential goods as the country braces for the impending La Niña weather phenomenon.
With the specter of heavier rainfall and cooler weather looming, City Councilor Rey Gealon has authored a resolution to ensure vigilance against exploitative practices during this critical period.
On May 29, the Cebu City Council approved a resolution urging the Cebu City Business Permit and Licensing Office (BPLO) to closely monitor business establishments to prevent price manipulation on basic necessities and prime commodities.
The resolution notes the need for a dedicated task force to target hoarders and manipulators who might exploit the situation to the detriment of consumers.
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The resolution also expresses its support to agencies involved in price monitoring, such as the Department of Trade and Industry (DTI) and the Department of Agriculture (DA), which have already intensified their efforts in anticipation of La Niña.
Earlier, City Councilor Renato Osmeña Jr., the newly-appointed overseer of the Office of the City Markets, plans to implement a system that will track the number of goods entering the city’s markets and prevent hoarding among suppliers.
Osmeña suggested establishing a system similar to a post office to track all goods entering the market, which he believes would help prevent future shortages and hoarding and possibly price manipulation.
He explained that such a system would allow for market transparency, making it possible to identify those who are hoarding goods.
READ: DTI, DA ramp up price watch as La Niña nears
In an Inquirer report dated May 21, the DTI and DA ramped up their price monitoring of basic necessities and prime commodities.
Trade Secretary Alfredo Pascual reminded the public that automatic price control measures come into effect in areas declared under a state of calamity due to La Niña to pevent price manipulation.
Meanwhile, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) issued a La Niña Watch on March 7. This indicates the country’s transition from the current El Niño to La Niña weather conditions.
The Pagasa forecasted a shift to a neutral condition by June, with the potential onset of La Niña by July.