Palace: Hoarding, price manipulation of rice really exist

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Sunday, July 6, 2014

MALACANANG said Sunday that the raid on at least three warehouses where sacks of rice from the National Food Authority (NFA) were allegedly being repacked only proved that there were unscrupulous traders engaging in hoarding and price manipulations.

Presidential Communications Operations Office Secretary Herminio Coloma Jr. said that from the 12 warehouses that the personnel of the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG) visited, three of them allegedly violated the law because owners failed to show documents that they were legitimate rice traders.

He said the police padlocked these three warehouses.


"Pinapatunayan lang ‘nung naging resulta ng pagkilos ng ating pamahalaan na totoo ‘yung hinala na meron talagang mga nagsasamantala at nagsagawa ng mga labag sa batas na hoarding at pag-manipula ng presyo," Coloma said in an interview over dzRB Radyo ng Bayan.

Quoting NFA Administrator Arthur Juan, Coloma said that 80,076 bags of rice were found in the three warehouses.

If each bag contains 50 kilos, he said the rice to be confiscated was equivalent to about 4,000 metric tons.

The Palace official said that charges will be filed against those who allegedly violated the law.

He also said that it could be expected that there would be more supplies of rice in the market following the operations conducted by the CIDG personnel.

The Department of Trade and Industry (DTI) will continue to monitor the prices of goods, such as bread, canned goods, bottled water, milk and others, Coloma said.

The Palace official also asked the public to report suspected unscrupulous traders to DTI and other law enforcement agencies. (SDR/Sunnex)

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