Manila – Speaker Ferdinand Martin G. Romualdez announced a reinforced commitment from the House of Representatives to combat hoarding, profiteering, and smuggling of agricultural products, stating that addressing these issues is a priority for the legislative body.
According to Philippines News Agency, who spoke during the resumption of the legislative session on Monday, the House will not tolerate individuals who exploit the pricing of basic goods, impacting ordinary Filipinos and farmers. "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. There will be no letup in the fight against hoarding, profiteering, and smuggling of agricultural products, ensuring fair prices for both farmers and consumers," he declared.
The Speaker expressed particular concern about the significant gap between farmgate and retail prices of key commodities, especially rice. To tackle this issue, the House Committee on Trade and Industry convened on Monday to receive updates from relevant government agencies on the enforcement of pricing laws and regulations for essential goods.
The briefing session marked the beginning of a congressional inquiry aimed at investigating the disparities between farmgate and retail prices of rice and other essential items. Romualdez called for immediate legislative action to safeguard the interests of both producers and consumers, stressing the importance of oversight in maintaining a fair and transparent market.
Emphasizing the need for cooperation among various stakeholders, Romualdez encouraged government agencies, industry representatives, and consumer advocacy groups to actively participate in the investigation and help devise effective policy interventions. "We must identify and address loopholes that contribute to profiteering and unfair pricing practices within the supply chain," he noted.
Romualdez concluded by emphasizing the goal of ensuring the sustainability and viability of all stakeholders involved in the agricultural supply chain, to continuously deliver basic goods and services at affordable prices to consumers.