SRP In Effect For Candles, None For Flowers – DTI

Candles, sales of which are expected to surge ahead of All Souls’ Day and All Saints’ Day, are covered by the Department of Trade and Industry’s standard retail prices (SRP).

On Monday, Oct. 24, the DTI said there are existing SRPs for candles, based on the latest SRP bulletin issued on Aug. 12.

The SRPs for candles range from P29.75 to P177.71, depending on the number of candles per pack.

Based on the SRP bulletin, there are 33 stock keeping units (SKUs) for candles.

The SKUs for candles come in packs of two pieces, four, six, eight, 10, 12 and 20 pieces.

Meanwhile, the DTI said it would not issue an SRP for flowers, which are not considered as basic necessity or prime commodity (BNPC).

In August, the DTI said the prices of 67 BNPCs were raised in its latest SRP bulletin.

It explained that the products posted a 3.29 percent to 10 percent increase in SRPs due to rising prices of raw materials and packaging and other costs globally.

Earlier this year, the DTI emphasized that the issuance of SRP bulletin for basic goods is authorized by law.

The DTI said it is among those implementing Republic Act No. 7581 or the Price Act, as amended, and serves as chairman of the National Price Coordinating Council.

The DTI cited Executive Order 913 issued in 1983 which vests upon the trade secretary the power and authority to promulgate rules and regulations to implement the provisions and intent of “trade and industry laws.”

It also said that under the Price Act, the DTI secretary is authorized to issue, from time to time, suggested reasonable retail prices for any or all BNPCs under its jurisdiction to guide producers, manufacturers, traders, dealers, sellers, retailers and consumers.

The agency explained that it requires the submission of supporting documents to determine if proposed price adjustments from the manufacturers are reasonable and in line with Department Administrative Order 17-09 or the Guidelines for the Implementation of SRP of the BNPC under the agency’s jurisdiction.

It added that it also conducts independent research to validate the data submitted by the manufacturers.

“Clearly, the DTI approved and published SRP is but a reiteration of the supporting documents provided by manufacturers/producers, albeit adjusted according to relevant market factors and to avoid profiteering,” the department said earlier.