24 Oras is GMA Network’s flagship newscast, anchored by Mel Tiangco, Vicky Morales and Emil Sumangil. It airs on GMA-7 Mondays to Fridays at 6:30 PM (PHL Time) and on weekends at 6:00 PM. For more videos from 24 Oras, visit http://www.gmanews.tv/24oras.
#GMAIntegratedNews #KapusoStream
Breaking news and stories from the Philippines and abroad:
GMA Integrated News Portal: http://www.gmanews.tv
Facebook: http://www.facebook.com/gmanews
TikTok: https://www.tiktok.com/@gmanews
Twitter: http://www.twitter.com/gmanews
Instagram: http://www.instagram.com/gmanews
GMA Network Kapuso programs on GMA Pinoy TV: https://gmapinoytv.com/subscribe
#GMAIntegratedNews #KapusoStream
Breaking news and stories from the Philippines and abroad:
GMA Integrated News Portal: http://www.gmanews.tv
Facebook: http://www.facebook.com/gmanews
TikTok: https://www.tiktok.com/@gmanews
Twitter: http://www.twitter.com/gmanews
Instagram: http://www.instagram.com/gmanews
GMA Network Kapuso programs on GMA Pinoy TV: https://gmapinoytv.com/subscribe
Category
🗞
NewsTranscript
00:00 Some retailers have already sold their rice.
00:04 On the first day of the implementation of the President's order, the price was limited.
00:09 The farmers are also getting angry because they are the most involved in the order.
00:13 I also asked why no one is being punished for manipulating the price.
00:17 In a market, the rice that entered the price cap was sold out early,
00:22 even if it was yellow and broken.
00:25 Joseph Morong and Maki Pulido were punished.
00:30 So, for the poor, Jek did not want to sell rice first.
00:35 This is a copy of the receipt of the supply he bought last night.
00:39 Because a cabin has 50 kilos for 2,210 pesos,
00:43 he should sell it for 49 to 50 pesos per kilo
00:47 so that the cost and payment of the position can be repaid.
00:50 But as a follow-up to the price cap that was started to be implemented today,
00:54 he sold it at a loss of 45 pesos.
00:58 He sold it for 41 pesos, which should have been 48 pesos.
01:02 City Hall and DTI said that we need to display 45 and 45.
01:07 Because if we don't display, we can be closed.
01:10 This is also what some rice retailers in Mega Q Mart in Quezon City were worried about.
01:14 That's why before the interagency inspection this morning,
01:17 they were forced to sell at a loss.
01:20 The rice was closed and the management sacrificed to sell here so that people can buy.
01:29 This was collected by the rice retailers and within almost four hours, it was sold out.
01:34 They just sold it for 45 pesos. It's okay but it's still expensive, like the tomatoes.
01:41 The 41 pesos of regular milk is yellow or broken.
01:46 But even if it's broken, it's already a compensation for the people who bought it.
01:50 It's to get a few days of budget because there's no salary cutoff until September 15.
01:56 What the rice retailer, Jack, can't say until when they can afford to sell at a loss.
02:02 We're closed, ma'am. There's no one to buy. We're still at a loss.
02:05 We're just tired.
02:06 DOJ is warning that there are complaints that can be faced by those who won't follow the price ceiling.
02:12 The most serious one is economic sabotage, which is non-bailable.
02:15 Profiteering and other crimes that are against commercial interests of the people.
02:21 Even the government is blaming the cartel for manipulating the price of rice.
02:26 The Philippines' government is just trying to get to know the cartel.
02:29 It was already mentioned in the hearing of the 18th Congress.
02:32 We're wondering why until now, no one has been punished.
02:36 Let's just wait for the results of the investigations.
02:39 On the second, DTI has already hired retailers to abuse the rice price ceiling of P41 to P45.
02:48 But some are still selling well-milled rice that is higher in price ceiling at P55.
02:54 The demand of these sellers is that they should just let them finish their stock that they bought at a higher price before.
03:02 Premium rice like the ones sold in this store are not even worth the price ceiling.
03:07 Actually, it's a special rice. It's not affected.
03:11 Here in Palawan, an island province, most of the rice here is imported from other provinces.
03:18 But there are rice fields like here in Nara where the rice is almost ripe.
03:24 But to lower the price of rice, according to the farmers, they will be hit.
03:30 Guillermo Pacquin Valencia is worried that the price of rice from his five hectare farm will be reduced.
03:38 For now, they are giving P22 to P24 per kilo to the traders.
03:44 But they might be buying P18 from the traders.
03:48 Of course, we can't do anything. Of course, we can't not sell the rice.
03:52 We can't pay the debt. Farmers are the ones who will be sacrificed.
03:57 He hopes that even if the price of rice is P20, the farmers will still have a fight.
04:02 In Aurora, the traders will not give P15 to the traders because they are only buying P17.
04:10 I will sell it to the people. I will be the one who will sell it. I am a helper.
04:15 In Isabela, rice is being harvested. They are also worried about the effect of the price ceiling on the price.
04:21 For now, the price of rice is P23 per kilo.
04:25 We are not selling rice. We are not selling rice.
04:31 We are not selling rice. We are not selling rice.
04:37 For GMA Integrated News, Joseph Morong, Mackie Pulido, 24 Hours.
04:43 [music]