TRADE Secretary Alfredo Pascual on Monday warned against price manipulation ahead of the floods and rains from the La Niña weather pattern, which state weather forecasters expect to supplant the ongoing El Niño as early as next month.

"Any individuals caught engaging in illegal price manipulation will be prosecuted to the fullest extent of the law," he said in a statement, adding that "in areas declared under a state of calamity due to La Niña, automatic price control comes into effect."

Pascual said the Trade Department was working closely with the Department of the Interior and Local Government (DILG) to reactivate local price coordinating councils (LPCCs) for price monitoring.

LPCCs are mandated to coordinate and rationalize programs to stabilize prices and supplies of essential goods, and can also recommend price caps or suggested retail prices to the National Price Coordinating Council or concerned implementing agencies.

The Trade Department said that based on DILG data, 1,335 or 78 percent out of 1,716 local government units have already reactivated their LPCCs.

Pascual also said that they were collaborating with the Department of National Defense, which has committed to supporting agencies involved in monitoring the prices of basic necessities and prime commodities.

"This collaboration underscores the government's unified approach to safeguarding the public against exploitative practices," he said.

Defense Secretary Gilberto Teodoro Jr. said that "whatever support is needed by the Department of Trade and Industry and the Department of Agriculture (DA), rest assured we are here ready to assist them," Teodoro said.

The DA likewise said that it was keeping watch over prices of rice, corn and other agricultural products as the country transitions from the El Niño, which brings dry spells and droughts, to the La Niña.

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