Malacañang urged on Wednesday the public not to engage in panic-buying as this could result in hoarding and spike in prices of goods.

The call was made amid the increasing cases of coronavirus disease in the country

In a statement, Presidential Spokesperson Salvador Panelo said officials from the Department of Trade and Industry have assured there is ample stock of essential items in the market.

"The Palace...appeals to our people to buy only what they need. There are reports of panic-buying in some supermarkets, groceries or pharmacies," he said.

"This would only result in undue hoarding and price increases," Panelo added.

He asked for everyone's cooperation during this time.

"Let us not circulate unverified information that may only cause unnecessary anxiety among the members of our respective communities and instead maintain good hygiene and observe proper etiquette at all times," the official added.

Supplies of some goods, such as alcohol and disinfectant, reportedly have been sold out in some supermarkets due to COVID-19 threat. Celerina Monte/DMS