Photo credit: Martin Romualdez

It looks like Speaker Ferdinand Martin G. Romualdez has had enough of the soaring rice prices—and he’s calling for a mega government task force to finally crack down on manipulators and greedy traders.

Romualdez urged immediate action to bring rice prices down. He emphasized that with oversupply and reduced import tariffs, prices should already be at a much more reasonable P35 to P40 per kilo—not the current P50 or more.

The proposal follows the alarming findings of the House Quinta Committee, chaired by Albay Rep. Joey Salceda, which uncovered evidence of collusion and price manipulation in the rice industry. Despite ample supply, prices have remained stubbornly high—raising suspicions of hoarding and price-fixing by certain importers and traders.

A Super Task Force to the Rescue

Romualdez’s idea? A mega government task force composed of agencies like the Department of Agriculture (DA), Department of Justice (DOJ), National Bureau of Investigation (NBI), Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), and Department of Trade and Industry (DTI). This powerhouse team would have the authority to:

• Conduct inventories

• Check compliance with tax laws

• Inspect warehouses

• Immediately shut down businesses caught hoarding rice or manipulating prices

And here’s the kicker: the task force would report monthly to Congress for oversight, ensuring transparency and swift action.

Why Aren’t Prices Going Down?

Romualdez was clear in his frustration. “The findings of the Quinta Comm expose a serious betrayal of public trust. The Filipino people are paying unnecessarily high prices for rice, which should now be at P35 to P40 per kilo due to oversupply and tariff reductions. This blatant manipulation is unacceptable,” he stressed.

During hearings, the Philippine Statistics Authority (PSA) revealed that the demand-supply ratio has dropped significantly—from 82.5 to 69.4—yet prices have barely budged. Salceda, an economist, confirmed that the landed cost of imported rice now averages P33.95 per kilo, which means retail prices should naturally stabilize around P35.

Instead, lawmakers discovered what appears to be a coordinated effort to hoard rice stocks and artificially inflate prices. Marikina Rep. Stella Quimbo didn’t mince words, saying, “Ang stocks ng bigas ay sobra-sobra, pero bakit hindi bumababa ang presyo? Malinaw na may sabwatan.”

The Big Players Named

The inquiry pointed fingers at two major companies—RBS Universal Grains Traders Corp. and Sodatrade Corp.—importing a combined 273,000 metric tons of rice under what lawmakers called suspicious arrangements. Agap Party-list Rep. Nicanor Briones accused them of operating under the same ownership to control the market.

Quimbo added that these players have raked in a shocking P13 billion in profits from reduced tariffs but have withheld stock from the market, worsening the situation. “Kailangan nilang magpakita ng konsensya at ilabas ang bigas para bumaba ang presyo,” she said.

What’s Next?

Romualdez assured the public that the House will not sit idly by. They’re now working on legislation to strengthen the Anti-Agricultural Smuggling Act of 2016 and hold all perpetrators accountable. He also called on the Department of Agriculture to step up its monitoring efforts to ensure surplus stocks are released into the market.

“Ang bigas ay buhay. Hindi dapat ito maging laruan ng mga sakim na negosyante,” Romualdez said, adding that the House will not stop until justice is served and rice becomes affordable for every Filipino family.

The message is clear: Rice cartels, your days are numbered. With this proposed mega task force, Speaker Romualdez and the House are determined to take the fight directly to the manipulators and make affordable rice a reality for all Filipinos.