Co: Include gov’t execs in economic sabotage rap if rice prices keep rising

MANILA, Philippines — Ako Bicol Party-list representative and House committee on appropriations chair Elizadly Co said government officials should be included in economic sabotage complaints if rice prices continue to increase.

Co’s remark stemmed from his disappointment over previous assurances supposedly given by Agriculture Undersecretary Leocadio Sebastian and other agency officials – that the price of rice would not increase again – which did not happen.

Rice prices surged to up to P60 a kilogram in the last few weeks amid fears of a shortage after India stopped exports.

Ako Bicol Party-list Rep. Elizaldy Co, chair of the House committee on appropriations. Photo from Office of Rep. Elizaldy Co, Media Affairs

“We know it’s coming, that the price will go up to P60, and we don’t want it to happen because this happened the last time during the administration bumagsak ‘yung rating (the rating went down). We don’t want it to happen and you assured us up to May. Sinabi mo imposibleng mangyayari ‘yan (You said that is impossible to happen),” Co recalled during a hearing on the proposed P108.5 billion budget of the Department of Agriculture (DA) on Tuesday, but quoted in the congressman’s statement released Wednesday.

“How come ganyan ang nangyari, hindi ko maintindihan talaga and the President said we should file economic sabotage (complaints). Dapat kasama ang mga officials na nagko-contribute sa ekonomiya ng pagsabotahe,” he added.

(How come that happened, I really don’t understand and the President said we should file economic sabotage (complaints). Officials who contribute to the economy of sabotage must be included.)

Co referred to meetings held previously attended by the congressman, Sebastian, Speaker Ferdinand Martin Romualdez, and other DA officials regarding a looming surge in the price of rice in the market.

Sebastian, however, claimed he could not predict India’s move to stop rice exportation and its inevitable effect on the market.

But Co said it is merely a matter of supply and demand, that if the country has sufficient supply, prices would not be affected even if worldwide prices increase.

“If we have enough supply then the price will not go up even though the world market is very high,” the House appropriations panel head explained.

“There must be a mechanism, hindi naman pwedeng pabayaan na lang natin mag-fly ‘yung presyo. Unang-una pinangako ng ating Pangulo na bababa ang presyo ‘di ba P20? We can buy low then i-reserve mo ‘yan para hindi tumaas, para naman hindi maaapektuhan. We need to make some recommendation for that kasi hindi pwede next year ganun na naman,” he added.

(There must be a mechanism. We can’t just let the price fly. First, our President promised to drop the price to P20 a kilogram, right? We can buy low and then reserve that so it doesn’t increase and won’t be affected. We need to make recommendations for that because it should not happen again next year.)

On July 25, following President Ferdinand Marcos Jr.’s second State of the Nation Address, Romualdez said they would use the House’s oversight function to check alleged hoarding of agricultural products.

Eventually, Romualdez said he was able to secure Vietnam’s promise to supply affordable rice to the Philippines.

Lawmakers praised Romualdez’s move, but they also raised concerns that the country is being too reliant on rice importation instead of pushing for self-sufficiency.

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