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LKI- 2020-019 PRESS STATEMENT
April 24, 2020
BRING DOWN PRICES ON ALL FOODS AND DELIVERY SERVICES AS ECQ IS EXTENDED
In a public statement today and morning interview with DZRH’s Angelo Palmones radio program, as well as in the Roundtable forum hosted by Mr. Melo Acuna on Wednesday, consumer advocacy group Laban Konsyumer Inc. (LKI) President Vic Dimagiba called for a rollback on all foods , saying that “during these trying times of the enhanced community quarantine, and the lockdown, it is very difficult for our fellow Filipinos to earn money, keep a secure job and make enough earnings to sustain themselves and their families. Thus LKI feels that the prices for all foods should go down, especially considering all the factors in play. Consumer welfare must be protected and ensured during the pandemic, so as to better serve the citizens as we are facing a global crisis.”
Dimagiba also stated that “the delivery services and delivery fees must also be monitored and regulated. Now that the delivery business is very strong because of the ECQ and the lockdown, there must be measures put into place by government to make sure the delivery fees remain low. Laban Konsyumer observed that delivery fees by known courier services have remained at pre Covid 19 prices .
LKI pointed out that “ retail prices of diesel and gas had gone down by 33% to 37 % , or Php 15.50 for Gas per liter and Php 15.10 for Diesel per liter compared to January 2020 of Php 46.40 for Gas and Php 40.20 for Diesel retail prices“. Using 5% as the transportation cost of food sold, our calculation shows that food retail prices due to much lower fuel costs could go down to no less than Php 1.00 per unit.
For canned goods, if we look at the prices of tin plate through the past few months, we can see that there was a dip in cost. In December 2019, tin plate was valued at 17,000 USD per metric ton, while in March 2020 it was placed at 15,000 USD per metric ton. This is a downward movement of 11.64%, which will lead us to believe that because of the decrease in price of tin plate, then the canned goods should be cheaper by another Php 1.00 per unit. Tin is 40% of the costs of canned goods.
We plead that Inter Agency Task Force monitor and regulate the prices of all foods and delivery services so that there are no profiteers during this enhanced community quarantine or lockdown. END