Department of Trade and Industry (DTI) Secretary Ramon Lopez has advised the public not to panic buy and engage in hoarding following the enforcement of modified enhanced community quarantine (MECQ) measures in Metro Manila and in four other adjacent provinces.
Lopez said there is enough supply of goods in Metro Manila and the four other provinces that have been placed again under MECQ.
“Major retailers and manufacturers have reported that inventory of finished goods of almost all basic products can last for over two months.”
The trade chief stressed major retailers and manufacturers have reported that inventory of finished goods of almost all basic products can last for over two months.
Manufacturers also have more than three months’ supply of raw materials, the trade head added.
“We have been through this MECQ, even ECQ before, and the supply of food and essential products have never been short.”
“There is no need to panic buy. We have been through this MECQ, even ECQ (enhanced community quarantine) before, and the supply of food and essential products have never been short,” he said.
When the ECQ was first announced in March, there were reports on the hoarding of goods as the public feared running out of supplies amid the most stringent community quarantine measures.
DTI then set a limit in buying food and non-food products.
But as more economic activities have reopened during the first MECQ in May, the department raised the limit on essential products, such as alcohol and face masks, and lifted the quantity limit on instant noodles, canned sardines, canned milk, powdered milk, instant coffee, and mineral water.
Lopez said he does not yet see a need to reimplement the anti-hoarding and panic buying memorandum circular as Metro Manila, Bulacan, Cavite, Laguna, and Rizal have reverted to MECQ.