DAGUPAN CITY – The Department of Trade and Industry (DTI) in Pangasinan has lowered the suggested retail prices (SRPs) of some powdered milk brands due to decreasing costs of raw materials.
Based on the updated SRPs list of DTI, milk products that posted a decrease are as follows: Bear Brand Powdered Milk Drink 150g has dropped to P50 from P51; Birch Tree Cream Milk Powder 150g decreased to P57.10 from P58.10; and Alaska Powdered Milk Drink 150g adjusted to P44.15 from P45.15.
Peter Mangabat, provincial director of DTI-Pangasinan, said the new list of SRP updated on February 23 was based on the lowering cost of imported raw materials of powdered milk.
Mangabat advised all the retailers in the province to check their prevailing prices from time to time to ensure that they are complying with SRPs and to avoid possible penalties provided under the Price Act.
“Price manipulation is a violation that penalizes a retailer or distributor an imprisonment of five years up to 15 years and administrative fine of not less than P5,000 but not more than P2 million pesos,” said Mangabat.
He urged all business establishments in the province to continuously observe the call of DTI on reasonable prices to protect the consumers.