When the quarantine started in the Philippines, many of the essential goods started to have price hike as the DTI gives restrictions to some of the essential goods to be bought by bulk, despite the fact that others begin to panic buying and stores begin to observe guidelines of IATF that makes it harder for the buyers to buy essential goods conveniently. Now, DTI lifted purchase limits for essential items. Will this action of DTI affect the prices of our commodities? Share your thoughts about this, citing what have you learned in mark-up, mark-on and mark-down.
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As supplies and prices of essential goods stabilize, the Department of Trade and Industry (DTI) is looking into lifting the memorandum circular (MC) that sets limits in buying food and non-food products.
“We have been receiving requests from manufacturers and retailers to lift the anti-hoarding and anti-panic buying memorandum circular,” DTI Undersecretary for Consumer Protection Group Ruth Castelo said during the Laging Handa press briefing Tuesday.
To recall, the DTI issued in March MC 20-07 ordering retailers to limit the selling of essential products as panic buying and hoarding were observed at the start of the enhanced community quarantine (ECQ) in Luzon.
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