MANILA: Speaker Ferdinand Martin G. Romualdez on Wednesday said he would spearhead an investigation in aid of legislation into the widening gap between farmgate and retail prices of rice and other basic goods as soon as the House of Representatives resumes its session on April 29.

Among others, Romualdez said the review aims to identify and address loopholes that may contribute to profiteering and unfair pricing practices within the supply chain.

This developed after Romualdez and Deputy Majority Leader Erwin Tulfo met with representatives of producers, retailers, and grocery stores on Tuesday where they denied making any substantial price changes.

“The discrepancy between farmgate and retail prices of basic goods is alarming and warrants immediate attention. We cannot ignore the plight of our farmers who are struggling to make ends meet, nor can we turn a blind eye to the burden placed on consumers,” Romualdez said in a statement.

“It is imperative that we conduct a comprehensive review of our laws to en
sure that they effectively safeguard the interests of our farmers and consumers. We must take proactive measures to prevent profiteering and promote a fair and transparent trading environment,’ he added.

During Tuesday’s meeting, Jayson Cainglet of Samahang Industriya ng Agrikultura (SINAG) informed the Speaker that farmgate prices of rice, poultry, pork, and even onions have been maintained for the past three months ‘so there should be no spike in the prices of these items.’

Last month, the Philippine Chamber of Agriculture and Food noted that the retail cost of pork is reaching as high as PHP420 per kilo in some places, while the farmgate price of pig for slaughter ranged only between PHP140 and PHP160 per kilo.

Romualdez assured the producers and retailers that the House would look into the price discrepancy in the exercise of its oversight function, as well as a thorough review of existing laws to protect the interest of both consumers and producers and deter profiteering.

He also urged all stakeholde
rs, including government agencies, industry representatives, and consumer advocacy groups, to actively participate in the investigation and contribute to the formulation of effective policy interventions.

‘At the end of the day, we want to make sure that all the stakeholders in whatever industry or sectors are viable, if they are in the business side of it, so that it becomes sustainable, so that we can continue delivering basic goods and services to the consumers at sustainable, affordable prices,’ Romualdez said.

The House Committee on Agriculture headed by Quezon 1st District Rep. Mark Enverga will lead the investigation into the ‘disconnect’ between farmgate and retail prices of basic goods.

Source: Philippines News Agency