Agriculture Secretary Cracks Down on Rice Price Gouging
Rice Price Gouging Under Scrutiny as Agriculture Secretary Vows crackdown
Makati, Philippines – Agriculture Secretary Francisco Tiu laurel Jr. issued a stern warning to rice profiteers on thursday, vowing to take action against those exploiting consumers amid rising food prices. The warning came after a visit to the Guadalupe Public Market in Makati, were Secretary Laurel observed important discrepancies in rice prices.
While some retailers were selling rice for P40-P45 per kilogram, others were charging P50 per kilogram or more, with one brand reaching a staggering P62 per kilogram. This disparity, Secretary Laurel noted, raised concerns about potential price gouging.
“We will go after those who are taking advantage of the situation,” Secretary Laurel declared, emphasizing his commitment to ensuring fair and accessible food prices for all Filipinos.
The Secretary’s visit, conducted in collaboration with officials from the department of trade and Industry (DTI), aimed to assess the ground reality of rice prices and identify any irregularities. The observed price variations, coupled with reports of discrepancies between importers’ landed prices, retailers’ costs, and final consumer prices, have fueled suspicions of profiteering.
Secretary Laurel’s strong stance against price manipulation signals a renewed focus on consumer protection and market stability within the agricultural sector.
Rice Price Gouging Under Scrutiny as Agriculture Secretary Vows Crackdown
Makati, Philippines – In the face of surging food prices, Agriculture Secretary Francisco Tiu Laurel Jr. has issued a stark warning to rice profiteers, promising decisive action against those exploiting consumers. This strong stance comes after Secretary Laurel’s visit to the Guadalupe Public Market in Makati, where he observed alarming discrepancies in rice prices.
While some retailers were selling rice for P40-P45 per kilogram, others were charging P50 per kilogram or more, with one brand reaching a staggering P62 per kilogram. This significant price variation has raised concerns about potential price gouging.
“We will go after those who are taking advantage of the situation,” Secretary Laurel declared, firmly stating his commitment to ensuring fair and accessible food prices for all Filipinos.
The Secretary’s visit was conducted in partnership with officials from the Department of Trade and Industry (DTI) to assess the on-the-ground reality of rice prices and identify any irregularities. Suspicions of profiteering have been fueled by reports of discrepancies between importers’ landed prices, retailers’ costs, and final consumer prices, along with the significant price variations observed during the market visit.
Secretary Laurel’s firm stance against price manipulation signals a renewed focus on consumer protection and market stability within the agricultural sector.