Enough supply of goods, no need for panic buying: DTI

MANILA – Department of Trade and Industry (DTI) Secretary Ramon Lopez has advised the public against panic buying and hoarding.

Lopez said there is enough supply of goods even if Metro Manila and four other provinces were placed anew under modified enhanced community quarantine (MECQ).

In a text message to trade reporters Monday, Lopez said 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, he added.

“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,” the trade chief 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 are reverted to MECQ starting Tuesday.