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NewsTranscript
00:00It was recorded in the camera that the amount of rice produced in the rice industry is high, so its sale is still high among the families.
00:08The importers also denied the allegation that there is a cartel that manipulates the price of rice.
00:14This is the report of Jonathan Andal.
00:20The price of imported rice per kilo in the market varies from 40 to 64 pesos, depending on the class.
00:27Based on the latest monitoring of the Department of Agriculture, the price is still high even though there is an oversupply of rice and even though the price of rice was reduced by 20% since July.
00:37That's why congressmen believe that there is a cartel in the rice industry.
00:42Our rice is in the warehouse.
00:47They don't export it, so the price doesn't go down.
00:51The farmers are affected, but nothing happens to the consumers because there is a sabotage, there is a cartel that is happening.
01:00I think there is an advance in our government agencies, why we don't meet our target to really lower the price of rice.
01:11The farm gate price went down.
01:14When the landed cost went down, it should translate to lower retail, but that didn't happen.
01:22In the hearing of the Quinta Committee of the Camera, the 10 largest importers of rice in the Philippines denied the allegation that there is a cartel that manipulates the price of rice.
01:33We don't have a cartel, we don't do profiteering, we're dictated by the market prices, we don't do hoarding.
01:43What we are blamed for now is that we became the spotlight of the importers, where in fact, what we see is the problem with the retailers.
01:51According to the Bureau of Customs, when imported rice comes to the country, its price is at P33 per kilo, or the so-called landed cost.
01:59The importer will get it and they say that it is sold to the wholesaler for P35 to P40.
02:06When it comes to the wholesaler, the rice is sold to the dealer before it reaches the retailer in the market.
02:12We are being fooled somewhere else. According to the Bureau of Customs, it is P33.
02:17According to the wholesaler, it is sold to the dealer for P35 to P40. Why is it sold to the market for P50?
02:24A large rice importer is about to be contempted.
02:27His rice worth P1 billion was cut this year, but it's not known how much they earn.
02:34It's impossible sir that you don't know how much you earn.
02:38My wife is the one who computes.
02:41Our detention facility is empty, Mr. Chair.
02:43He told me the truth.
02:44I think you're lying.
02:46We are wondering why the price is so high and the importer has nothing to do with it.
02:51I cannot accept that, Mr. Chair.
02:54May I now request AMLA, Mr. Chair, to check the financial records and transactions of all these top importers.
03:09The Department of Agriculture cannot say if there is a cartel based on rice.
03:14I cannot categorically say that there is one because it is not mandated by the DEA.
03:18Jonathan Andal reporting for GMA Integrated News.