Group sees price manipulation after rice hits over P50 a kilo

The rice watch group Bantay Bigas raised the possibility of price manipulation of the staple after it reached P52 per kilo in the market, according to a "24 Oras" report of Bernadette Reyes.

The Department of Agriculture (DA) said it could not confirm if some groups are controlling the prices, but added it would cooperate with the inspection of warehouses.

Bantay Bigas said the spike in the price of rice of up to P10 per kilo could only mean that groups are manipulating it.

"Pumunta kayo ng palengke, talagang paikot ikot ang mga nanay naghahanap ng murang bigas, naghahanap ng kahit paano mababa sa 50 pesos per kilo pero wala," Cathy Estabillo, the group's spokesperson said.

On Monday, several lawmakers led by Speaker Martin Romualdez toured markets to check the prices of rice.

"Hinahanap natin kung paano natin ibaba kasi 'yung ibang mga trader o 'yung mga ibang mga nagho-hoard, tinatago nila kaya nagkakaroon ng ano, artificial na shortage kaya ginagawa nilang mas mataas ang presyo," Romualdez said.

The House leader said the issue on rice hoarding and price manipulation is being investigated by the chamber.

DA Assistant Secretary Rex Estoperez said the department will work with the department's Inspectorate and Enforcement Office to check the warehouses of rice all over the country.

The price increase has prompted suggestions to put a cap on rice prices, which was rejected by the DA and other groups.

"Ang SRP (suggested retail price) ginagamit lang pag nakikita natin may paggalaw ng presyo pero on the price control for now mukhang wala naman tayong emergency for now," Estoperez said.

The Samahang Industriya ng Agrikultura (SINAG) said imposing a price control is not the right move, especially amid expected supply from local production.

"Based on harvest, 'yang 2,281,000 metric tons good for 64 days yan pero may buffer stock pa tayo, 'yang ani at naimport may almost 30 days tayo," SINAG chairperson Rosendo So said.

"'Yang sinasabi nila ma-shoshort tayo sa September hindi natin nakikita... marami tayong stock na available, so yang October naman start ng anihan so wala tayo problem," he added.—LDF, GMA Integrated News