MANILA, Philippines – Buying public be forewarned: Prices of ham and other Christmas products may go up 30 percent.
A high ranking official of the Department of Trade and Industry recently admitted at a media forum the agency cannot keep prices down on ham and other prime products associated with the coming holidays.
DTI Secretary Ramon Lopez said the department cannot maintain nor prevent prices of prime products like ham, chicken and other products from going up during the holiday season as dictated by the law of demand and supply.
Lopez told media-men at the Kapihan sa Manila Bay the public should be forewarned and for them to expect a hike in prices of ham, quezon de bola, and other food products that are usually prepared on the table by Filipinos during Christmas.
He, however, gave an assurance the DTI will continue to monitor the request of traders to raise their prices within the agreed level on what is known as Christmas products.
Lopez claimed that to make it a win-win situation for the traders and buying public, the DTI has entered a special arrangement and approved a price hike request of businessmen on the condition they won’t go beyond a 30% markup.
For their part, traders accordingly gave the department an assurance to follow the agreed markup percentage.