Speaker Calls for Task Force Against Hoarders, Profiteers Amid Rising Rice Prices

House Speaker Martin Romualdez vowed on Monday to crack down on hoarders, profiteers, and unscrupulous traders contributing to the continued rise in rice prices despite sufficient supply and reduced import tariffs.

Romualdez emphasized that food security is national security, saying: “The President already brought down tariff rates, and there is plenty of rice supply. So why are prices still high? To profiteers, wholesalers, and retailers—watch out because the QuintaComm will go after you.”

The House Quinta Committee—or Murang Pagkain Super Committee, composed of various House committees—has been holding hearings on food prices and security. Rice prices remain high even after tariff rates for imported rice were reduced from 35% to 15% this year to stabilize supply.

Heinous Crime Proposal

Zambales Representative Jefferson Khonghun proposed that price manipulation of food be declared a heinous crime, citing its devastating impact on poor Filipinos.

“So many poor Filipinos are affected by traders who take advantage, especially with rice prices,” Khonghun stated.

La Union Representative Francisco Paolo Ortega and Tingog Partylist Representative Jude Acidre echoed Romualdez’s call for a mega task force to target price manipulators and smugglers, likening their operations to cartels.

Acidre pointed out, “We don’t have a lack of supply, and importation is proper, but prices are not going down. People will continue to take advantage unless they are held accountable.”

Bureau of Plant Industry Criticized

House Deputy Speaker Jayjay Suarez criticized the Bureau of Plant Industry for issuing rice import permits without proper oversight, noting that the top two rice importers are owned by the same entity.

Records revealed notable rice importers, including Bly Agri Venture Trading, Atara Marketing Inc., Sodatrade Corp., and RBS Universal Grains Traders Corp. The Securities and Exchange Commission (SEC) also found related directorships between RBS Universal Grains Trader Corp. and Sodatrade Corp.

Next Steps: Addressing Energy and Water Costs

Romualdez said the House will also tackle other essential costs, such as electricity and water prices, once progress is made on stabilizing rice prices.

“We are the House of the people, and our mission is to improve the lives of Filipinos who are not as lucky as others,” Romualdez added.