MANILA, Philippines — A formation of a mega government task force to run after rice price manipulators and “greedy traders” is now being urged following the spike of rice prices in recent weeks, a lawmaker said.

House Speaker Martin Romualdez proposed the creation of a task force composed of various government agencies, including the Department of Agriculture (DA), Department of Justice with the National Bureau of Investigation, Bureau of Customs, Bureau of Internal Revenue, and Department of Trade and Industry.

The task force, according to Romualdez, would be tasked to conduct inventories, ensure compliance with tax laws, inspect warehouses, and immediately shut down non-compliant business establishments. 

He also recommended that the task force provide Congress with monthly reports to aid in its oversight responsibilities.

Romualdez also questioned why rice prices remain at around P50 per kilo despite adequate supply and lower importation costs, adding the need for closer monitoring of the supply chain.

“A call to immediate action is needed to force a decrease in rice prices for the benefit of the Filipino consumer,” Romualdez said.

“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 said.

During recent hearings of the Quinta Committee, also known as the Murang Pagkain Super Committee, lawmakers uncovered instances of price-fixing and hoarding by rice importers and traders. 

The Philippine Statistics Authority (PSA) reported an oversupply of rice, with the demand-supply ratio declining from 82.5 to 69.4 this year. 

As of November 1, 2024, it said that the country’s total rice stock inventory reached 2.46 million metric tons, reflecting a 24.4 percent increase compared to the 1.98 million metric tons recorded during the same period last year. 

On a monthly basis, the inventory rose by 7.9 percent from 2.28 million metric tons in the previous month.

Despite the surplus, PSA data showed that the price of regular-milled rice only slightly decreased, from P50.16-p50.40 in October to P49.44 early last month. 

Marikina City Representative Stella Quimbo noted that rice prices remain unnecessarily high despite sufficient supply and lower import tariffs under Executive Order 62.

“Ang stocks ng bigas ay sobra-sobra, pero bakit hindi bumababa ang presyo? Malinaw na may sabwatan sa pagitan ng mga importer at trader,” she said.

Lawmakers alleged that certain importers and traders conspired to hoard rice stocks, driving up prices and earning significant profits. 

Agap Party-list Representative Nicanor Briones named RBS Universal Grains Traders Corp. and Sodatrade Corp. as major players, accusing them of importing a combined 273,000 metric tons of rice under questionable arrangements.

“Kung titingnan, iisa lang ang may-ari. Malinaw na ito ay isang sabwatan upang kontrolin ang merkado at pahirapan ang mamimili,” Briones said.

Romualdez instructed the Quinta Committee to fast-track proposed legislation, including amendments to enhance the Anti-Agricultural Smuggling Act of 2016. 

He also called on the Department of Justice and the Philippine Competition Commission to take action against those responsible.

“This is not just an economic issue—it’s a matter of food security and national stability. The House will use all its powers to hold these cartels accountable, protect our farmers, and bring affordable rice to Filipino households,” Romualdez said.