MANILA — Senator Francis “Kiko” Pangilinan called for a proper mechanism to define rice profiteering and its impact on farmers and local rice production.

Speaking during the second public hearing of the Senate Committee on Agriculture, Food, and Agrarian Reform, held jointly with the Committees on Finance and Ways and Means, Pangilinan said a clearer definition is needed to effectively go after abusive rice traders and hoarders.

“In other words, kung gusto natin protektahan or bigyan ng fighting chance yung ating magpapalay, paano natin made-determine? Ano nga ba ang profiteering sa usapin na iyon?,” he said.

The senator, who now chairs the agriculture committee, led the hearing on possible amendments to the Rice Tariffication Law (RTL). His remarks came amid reports that traders have been buying rice from farmers at P5 to P10 per kilo, even though production costs range from P14 to P17 per kilo.

“Nagre-reklamo tayo masyado mura P5 isang kilo lugi. Bakit naman P5? Kumikita kasi ng malaki etc. Well, it’s all speculative. Walang science in determinining magkano talaga kinikita kapag binili ng P5 isang kilo,” Pangilinan said.

He cited cases where rice is bought from farmers at P5 per kilo and sold in the market for P40 to P45 per kilo, questioning how the law can establish this as profiteering.

Pangilinan said defining profiteering in the RTL amendment would help protect farmers and their livelihoods. He earlier filed a resolution seeking an investigation into the law, which he said failed to achieve its goals of lowering rice prices and uplifting farmers.