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Manila Bulletin devider Philippines devider Luzon devider Iloilo rice traders air concern on hoarding stipulation in SB 2432

Iloilo rice traders air concern on hoarding stipulation in SB 2432

Published Sep 14, 2023 06:13 am

ILOILO CITY – The Iloilo Grains Retailers, Traders, Millers, and Rice Importers Association has urged lawmakers to reconsider the provision on hoarding as stipulated in Senate Bill No. 2432 or the proposed Anti-Agricultural Economic Sabotage Act.

RICE STALL ILOILO CITY.jpg
A RICE retailer in Iloilo City.  (Tara Yap)

Ildefonso Dolorfino, the president of the association, is calling on the administration of President Ferdinand R. Marcos Jr. to review the bill of Sen. Cynthia Villar.

They particularly cited Section 4 which states that “agricultural smuggling, hoarding, profiteering, and cartel as economic sabotage are committed when the value of each agricultural and fishery product subject of the crime is at least P1,000,000.”

The P1-million stipulation was questioned by around 50 rice traders in Iloilo province.

“We want to clarify.  We are confused.  When they say it’s P1 million, is it stock?  Is it capital?  A lot of rice traders will be affected,” Dolorfino said.

Dolorfino said that P1 million is at least 500 sacks of rice being traded per week. “Is that hording?  My understanding of hording is when stocks are deliberately kept to jack up the need for supply,” Dolorino added.

Their concern came as rice traders are reeling from the impact of the rice price ceiling imposed by Executive Order No. 39 issued by President Ferdinand R. Marcos Jr.

Department of Agriculture-6 Director Dennis Arpia said DA officials on the national level have to tackle this concern.

Related Tags

Rice hoarding Rice retailers Anti-Agricultural Economic Sabotage Act Senate Bill No. 2432 Iloilo
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