DTI-Davao intensifies price monitoring of flour
Davao City (21 June) -- The Department of Trade and Industry (DTI) is intensifying its monitoring activities following a provisional order issued by its National Capital Region (NCR) office on the rollback of flour prices.
Last June 11, the DTI-NCR made an order among 11 millers to reduce the ex-mill flour prices to a range of P630 to P680 per 25-kilogram bag, from the more than P700 prevailing price level, pending the profiteering case filed against them.
The 11 flour millers ordered to cut prices are the Delta Milling Industries, Inc., Morning Star Milling Corporation, Philippine Foremost Milling Corp., San Miguel Mills, Inc., General Milling Corp., Liberty Flour Mills, Pilmico Foods Corp., Phil Flour Mills, Republic Flour Milling Corp., Universal Robina Corp., and Wellington Flour Mills.
The order came after the Bureau of Trade Regulation and Consumer Protection (BTRCP), on behalf of the consumers, filed complaints of profiteering last June 9 before the DTI-NCR.
In a preliminary hearing to be set, the 11 respondents will be asked to explain about the prices of their flour while the complainant, the BTRCP, will report its findings relative to the price of wheat in the world market as against the prevailing prices of flour in the local market.
DTI 11 Regional Director Marizon S. Loreto said that intensified price monitoring efforts are being done in order to ensure that the retail price of flour in the region is within the price cap.
"We have to protect our consumers. As long as we don?t have the results of the investigation yet, we can?t change the set price of P630 to P680 per 25-kilogram bag," she said.
Loreto added that if the office will discover that some retailers are selling flour beyond the price cap, they will be dealt with accordingly.
Meantime, DTI assures all millers that the legal process will be observed in accordance with DTI Administrative Order No. 7 series of 2006 regarding administrative investigation. (dti11/jmm) [top]