President Marcos: Over ₱3 Billion Lost to Agri Smuggling in 2023, New Law Signed

President Ferdinand “Bongbong” Marcos Jr. revealed that the Philippines lost more than ₱3 billion to agricultural smuggling in 2023. He made the statement during the signing of the Anti-Agricultural Economic Sabotage Act, which aims to tackle illegal activities affecting the agricultural sector.

Marcos emphasized that economic sabotage in agriculture is not just a matter of fraudulent deals but also leads to hunger, desperation, and betrayal. “These crimes threaten not only our economy but our national security as well. They endanger the livelihood of Filipino farmers and fisherfolk and undermine the country’s food security,” he said.

In addition to the losses in 2023, Marcos reported that authorities seized over ₱230 million worth of smuggled agricultural products in the first nine months of 2024.

The newly signed law classifies activities such as smuggling, hoarding, profiteering, and cartel operations involving agricultural and fishery products as economic sabotage, a non-bailable offense. Violators could face life imprisonment and fines up to five times the value of the goods involved. The law also holds accomplices, including financiers, brokers, employees, and transporters, accountable.