FIVE committees of the House of Representatives will hold an inquiry to find out why the cost of food items, particularly rice, remains high even though farmgate prices and prices in the world market remained low.
Speaker Martin Romualdez said that he has ordered the Committee on Ways and Means, Food and Agriculture, Trade and Industry, Food Security, and Social Services to determine whether the high prices of food items were caused by monopoly or smuggling.
“The price of rice has already been decreased by the President, and the price of rice is now low in the world market. Why is it that the price of rice remains high here in the country?” Romualdez said.
House of Representatives Speaker Martin Romualdez. PHOTOS BY J. GERARD SEGUIA
He said that the savings of businessmen should be passed on to consumers instead of pricing rice at P50 or 60 per kilo.
Romualdez said that the purpose of the investigation is to identify those who are benefiting from the tariff reduction and lower rice prices in the world market as well as farmgate prices.
“We will not favor whoever is controlling the prices of food; we will file cases of price manipulation or smuggling. Let this be an advance warning to shady businessmen who are duping consumers,” Romualdez said.
The committee began its investigation on November 26. It prodded the Department of Justice and the Office of the Ombudsman to find out if cases had been filed against government officials who were involved in the price manipulation of rice.
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