00:00The House Committee on Ways and Means Chair, Joey Salceda,
00:04denounced the most dangerous case of price manipulation in the agriculture sector
00:10that cost Php 1,000,000,000 in the Philippines
00:13happened under the Duterte administration.
00:17According to Congressman Salceda,
00:19the import permit of rice from 2016 to 2018
00:23led to an increase in the price of rice in 2018
00:28where buyers paid an additional Php 8 per kilo.
00:34Despite the law,
00:35this manipulation was allowed because of the strictness of the previous administration.
00:41According to him,
00:42a new super committee was initiated to investigate issues in food supply
00:48including the manipulation of price and smuggling
00:52with the aim of suppressing hunger and increasing food security.
00:57Salceda also requested documents from the National Food Authority
01:02and the Bureau of Customs
01:03regarding the importation of rice during the Duterte administration
01:08and warned that Sapina Powers will use it if necessary.
01:13Under the law,
01:14the economy lost Php 88.6 billion
01:20because of the manipulation
01:22and he said that the issue only worsened
01:24after the Rice Tarification Law was implemented in 2019.
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