Philippine govt warns rice hoarders as rice price rises

Source:Xinhua Published: 2013-9-6 20:44:31

The Philippine government warned Friday rice traders who have been involved in hoarding, and assured the public of enough supply of rice in the market.

Deputy Presidential Spokesperson Abigail Valte said that the state-owned National Food Authority (NFA) is now looking into those business establishments which were allegedly hoarding rice.

The NFA and the Department of Agriculture (DA) are aware of these abuses and are carrying out appropriate measures, she said in a news briefing.

Valte also said the government expects the price of the commodity to go back to normal as the country exits from the lean season. Prices of rice have recently continued to increase, and several traders were allegedly involved in the hoarding of rice.

The Philippines was a major rice importer until 2010. When President Benigno S. Aquino III assumed post on the same year, his administration targeted rice self-sufficiency by the end of 2013.

Posted in: Asia-Pacific

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