Albay: Albay 2nd District Representative and House Ways and Means Chair Joey Sarte Salceda, who is also the chair of the newly established Quinta Committee (Murang Pagkain Super Committee), disclosed on Wednesday that the committee is poised to present initial recommendations to President Ferdinand R. Marcos Jr. These recommendations aim to tackle the alleged rice price manipulation in the country.
According to Philippines News Agency, Salceda explained that the committee is scrutinizing trends in rice price manipulation over the past decade, focusing on price spikes from 2012-2013 and 2016-2018. This investigation seeks to determine whether the same network of smugglers and cartels remains active. Salceda emphasized the need for punishment of those involved in profiteering, hoarding, smuggling, and regulatory manipulation, especially concerning the 2016-19 price spikes and the high prices in 2024, despite a tariff reduction and a global price decrease.
Salceda pointed out that the Philippines has adequate
laws to enforce accountability and punish market manipulators. By Christmas, the committee aims to offer initial recommendations to President Marcos, with the hope that these can aid in addressing price abuses, serving as a “gift to the people.” The superpanel’s goal is to align rice prices as closely as possible with President Marcos’s target of PHP20 per kilogram, although Salceda mentioned a potential path to PHP30 per kilo.
Highlighting the economic impact, Salceda noted that rice constitutes a significant portion of household expenditures, especially for low-income families. He criticized the excessive profits by middlemen and cartels, observing that despite a 24.9 percent decrease in the landed price of imports, consumer retail prices have increased by 9.0 percent. This discrepancy signals potential irregularities in the rice trade sector.
Salceda also remarked on President Marcos’s efforts to lower rice prices and questioned the allocation of benefits from the reduced tariff, noting that the current
farmgate price in Central Luzon suggests that consumer prices should be lower. Additionally, he identified an increase in rice imports to 4.1 million metric tons, surpassing projected needs, which may indicate speculative activities by traders.
The Quinta Committee, tasked with addressing smuggling and price manipulation of essential commodities, includes members such as Representatives Ferjenel Biron, Wilfrido Mark Enverga, Rosanna Vergara, and Luisa Lloren Cuaresma, along with Anak Kalusugan Party-list Rep. Ray Reyes.
