House Speaker Martin Romualdez on Sunday proposed the creation of a mega task force to run after market manipulators to bring down the price tags of rice.
“A call to immediate action is needed to force a decrease in rice prices for the benefit of the Filipino consumer,” he said in a statement.
The Leyte representative made the proposal after the House Quinta Comm led by ways and means committee chairperson and Albay Rep. Joey Salceda uncovered alarming evidence of collusion and price manipulation in the rice industry, despite reports of oversupply and reduced import tariffs.
Romualdez said his proposed task force may be composed of the Department of Agriculture, Department of Justice, including the National Bureau of Investigation, Bureau of Customs, Bureau of Internal Revenue and Department of Trade and Industry.
The task force should have the power to conduct inventories, check on compliance with tax laws and rules, inspect warehouses, and to immediately padlock any erring business establishment. It is also expected to submit a monthly report to Congress as part of its oversight functions.
Romualdez said he could not understand why rice prices remain at about P50 per kilo, when these should have gone down due to sufficient supply and reduction in importation cost.
“The findings of the Quinta Comm expose a serious betrayal of public trust. The Filipino people are paying unnecessarily high prices for rice, which should now be at P35 to P40 per kilo due to oversupply and tariff reductions. This blatant manipulation is unacceptable,” he noted.
“We will not allow this exploitation to continue. The House of Representatives will dismantle this cartel, ensure accountability, and protect both consumers and our farmers,” Romualdez added.
Despite ample supply, the Philippine Statistics Authority (PSA) reported that the price of regular-milled rice decreased only slightly from P50.16-50.40 in October to P49.44 in the early part of last month.
Marikina City Rep. Stella Quimbo said rice prices remained artificially high despite abundant supply and reduced import tariffs under Executive Order 62.
Salceda, an economist, emphasized that rice prices should already stabilize at P35 per kilo, following the significant drop in the landed cost of imported rice, now averaging P33.95 per kilo.
Agap party-list Rep. Nicanor Briones identified two major companies—RBS Universal Grains Traders Corp. and Sodatrade Corp.—as key players, importing a combined 273,000 metric tons of rice under alleged suspicious arrangements.
Romualdez directed the Quinta Comm to expedite a proposed legislation, including amendments to strengthen the Anti-Agricultural Smuggling Act of 2016. He also urged the Department of Justice and the Philippine Competition Commission to hold perpetrators accountable.
“This is not just an economic issue. It’s a matter of food security and national stability. The House will use all its powers to hold these cartels accountable, protect our farmers, and bring affordable rice to Filipino households,” he said.
“We will not stop until justice is served and the rice industry is free from corruption. The days of exploitation are over,” Romualdez stressed.
He called on the Department of Agriculture to intensify monitoring of rice stockpiles and ensure that surplus stocks are released into the market to stabilize prices.
