Marcos: Over P3-B lost due to agri smuggling in 2023

More than P3 billion have been lost due to agricultural smuggling in 2023, President Ferdinand ''Bongbong'' Marcos Jr. said on Thursday.

Marcos made the remark during the signing into law of the Anti-Agricultural Economic Sabotage Act. He stressed that economic sabotage in the agricultural sector was ''not simply a tale of dubious deals and inflated profits; it manifests as well as hunger, desperation, as betrayal.''

''Let us then acknowledge the gravity of the situation: These crimes threaten not only our economy but our national security as well. It jeopardizes the livelihood of hardworking Filipino farmers and fisherfolk and it threatens the food sustainability of our communities,'' Marcos said.

''In 2023 alone, we lost over three billion pesos to agricultural smuggling --- staggering amount,'' he added.

Marcos also said that in less than nine months of 2024, authorities have seized over P230 million worth of smuggled agricultural products.

Marcos said that under the new law, smuggling, hoarding, profiteering, and cartel operations involving agricultural and fishery products will now be classified as economic sabotage, a non-bailable offense punishable by life imprisonment and fines up to five times the value of the goods involved.
 
He added that this does not just target the masterminds but it will also hold all accomplices accountable, including financiers, brokers, employees, and even transporters. --VAL, GMA Integrated News