CALL FOR GOVERNMENT STRONG SUPPORT IN RICE TRADE TO CURB PRICE SPIKES
Sec. Manny Piñol also asserted that there is enough rice stocks in the hands of the private sector. This lends credence to NFA’s claim that the rice cartel is the culprit behind the rice price spikes.
Notwithstanding all these pronouncements, what the recent rice price increases highlighted is the inability of government to act swiftly in situation of market aberrations that may pose grave risks to food security. This logically results from government’s policy of minimizing its role in food trade to allow greater private sector participation in the market.