D.A. conducting probe on possible profiteering on rice

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Transcript

00:00Since the declaration of the food security emergency last Wednesday, it was intended

00:04to immediately curb the persistent climb of rice prices despite falling costs in the global

00:10market and the 20 percent slash in tariffs on imported grains that took effect in July

00:15last year.

00:16The same goes for the country's favorite white meat, whose retail price is close to 100 percent,

00:23more than the farm gate price per kilo.

00:26Hence the ongoing probe to hold into account the agents of profiteering, price gouging

00:32and cost manipulation as we hear from our Harley Balbuena.

00:39The Department of Agriculture is investigating the possible profiteering on the prices of

00:44rice.

00:45This amid the extraordinary prices which led to the declaration of a food security emergency

00:52on rice.

00:53DA Assistant Secretary Spokesperson Arnel De Mesa said they are coordinating with the

00:58National Bureau of Investigation to dig deep into the rice value chain.

01:03The members of our committee have already ordered to investigate through the National

01:09Bureau of Investigation who are the possible profiteers in the whole value chain, from

01:15importers, traders, wholesalers, to rice retailers.

01:21After the food security emergency on rice, the National Food Authority is authorized

01:26to release the buffer stock of rice, which is expected next week.

01:31It will be sold at a minimum price of 35 pesos per kilo.

01:36Meanwhile, the DA is also studying the imposition of a maximum suggested retail price or MSRP

01:43on pork.

01:45Assistant Secretary Francisco Cho Laurel Jr. questioned the current 380 to 480 pesos price

01:52of pork per kilo, given its farm gate price is only 240 to 250 pesos per kilo.

02:00He said it is unacceptable if the prices of pork are above 400 pesos.

02:07The DA will look into the pork value chain and set an MSRP once it sees any profiteering

02:13activity.

02:14We're currently studying that and digging deep in the whole value chain of pork and

02:20we will see if there is profiteering or not.

02:25If we have identified that there is profiteering, then definitely we will be doing an MSRP also

02:32for pork.

02:33From People's Television Network, Harley Valbuena for Balitang Pambansa.

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