Mindanao Rice Prices Probed

The President asked the Department of Agriculture (DA) and Department of Trade and Industry (DTI) to form an investigation team in the wake of reports of the high price and shrinking supply of rice in the South.

"The President has ordered a joint DTI-DA team to do the appropriate investigation. By tomorrow, they will have made an assessment of the situation," Press Secretary Ignacio Bunye said.

Deputy Presidential Spokeswoman Lorelei Fajardo said the National Food Authority (NFA) and the National Bureau of Investigation (NBI) were also directed to get tough on rice hoarders in Mindanao.

"Anyone caught or suspected of hoarding will be dealt with severely. No one will be spared," she said.

The Department of Social Welfare and Development (DSWD) said rice hoarding may have pushed upward the prices of rice in Mindanao. The department said commercial rice currently sells as high as R51 a kilo in Mindanao, compared to R30 a kilo in Metro Manila.

Reports said panic buying of government-subsidized rice has started in Mindanao, specifically in the cities of Davao and Cagayan de Oro.

To ensure the supply …

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Publication information: Article title: Mindanao Rice Prices Probed. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: June 3, 2008. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2008 Gale Group.

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