Manila – Speaker Ferdinand Martin G. Romualdez emphasized on Monday the House of Representatives' unwavering dedication to combating hoarding, profiteering, and smuggling of agricultural products, declaring these issues as top priorities for legislative action.
According to Philippines News Agency, the House is determined to protect ordinary Filipinos and local farmers from those manipulating market prices. "We cannot ignore the plight of our farmers who are struggling to make ends meet, nor can we turn a blind eye to the burden placed on consumers," Romualdez stated during the legislative session's resumption. He expressed his commitment to ongoing efforts to ensure fair pricing, benefiting both producers and consumers.
This commitment comes amid concerns about the increasing disparity between farmgate and retail prices of staples like rice. To tackle these issues, the House Committee on Trade and Industry held a meeting on Monday to receive updates from various government agencies on the enforcement of pricing laws and regulations for essential commodities.
Romualdez announced the commencement of a congressional inquiry aimed at closing the gap between farmgate and retail prices, a move intended to foster legislative reforms. He called for immediate legislative action to safeguard the interests of producers and consumers, highlighting the importance of oversight in maintaining a fair and transparent market.
In his call for collaboration, Romualdez urged government bodies, industry leaders, and consumer groups to participate actively in the ongoing investigations and help develop effective policies to combat unfair pricing practices within the agricultural supply chain. "We must identify and address loopholes that contribute to profiteering and unfair pricing practices," he asserted.
Romualdez concluded by emphasizing the goal of sustainability in the agricultural sector, ensuring that stakeholders can continue to provide essential goods and services at reasonable prices.