Imported na bigas na nakatengga sa pantalan imbes na ilabas agad sa merkado, nais... | Unang Balita

GMA Integrated News

30 Sept 202402:20

Summary

TLDRMillions of kilos of rice are stuck at ports in Manila, according to the Bureau of Customs and the Department of Agriculture. There are concerns about potential hoarding and price manipulation by rice importers, who may be waiting for rice prices to rise before releasing their stock. The Bureau of Customs is investigating whether this delay is intentional to create a false supply issue and inflate prices. Currently, over 888 containers of rice remain in private warehouses, with some stocks already deemed abandoned. Authorities are looking into potential actions against these importers.

Takeaways

🌾 Millions of kilos of rice are stuck in ports in Manila, according to the Bureau of Customs and the Department of Agriculture.
📊 There are suspicions that rice importers are waiting for rice prices to increase before releasing their stocks.
🚨 The group 'Bantay Bigas' has called for an investigation into possible hoarding and price manipulation.
📝 Rice importers have complete paperwork, yet their stocks remain in storage rather than being sold in the market.
💰 Rice prices in the market remain high, despite the available supply in ports.
📅 There is a 30-day period for rice importers to release the imported rice after customs clearance, before it is declared abandoned.
🔍 The Bureau of Customs is looking into whether importers are manipulating the rice supply to artificially increase prices.
🤔 The Department of Agriculture is uncertain about its next steps regarding these rice importers.
🏢 As of September 24, 888 container vans of rice are in private warehouses, with over half still in ports.
⚠️ Initial data shows that two containers of rice, or about 54,000 kilograms, have been declared abandoned after exceeding the 30-day limit in ports.

Q & A

What issue is being reported by the Bureau of Customs and the Department of Agriculture regarding rice in Manila?
-Millions of kilos of imported rice are stuck in Manila's ports, possibly waiting for higher prices before being released.
Why does the group 'Bantay Bigas' suspect hoarding and price manipulation in the rice market?
-Bantay Bigas finds it suspicious that millions of kilos of imported rice are being held back instead of being sold immediately, which could suggest price manipulation.
What is the Bureau of Customs investigating in relation to rice importers?
-The Bureau of Customs is investigating if rice importers are intentionally delaying the release of rice stocks to create a false supply issue and drive up prices.
What is the usual process after rice receives customs clearance in the Philippines?
-Rice importers have 30 days to release the rice from the ports after receiving customs clearance. If they do not release it within this period, the stock is declared abandoned.
What explanation has been provided for the rice importers' delay in releasing rice from the ports?
-It is suggested that rice importers might be waiting for better market prices before releasing the rice, as they pay less for storage while the rice remains at the port.
How many container vans of rice were still in Manila’s ports as of September 24?
-As of September 24, less than half of the original 888 container vans of rice remained in Manila's ports.
What happens to rice that remains in ports for more than 30 days?
-Rice that stays in ports for over 30 days after customs clearance can be declared abandoned and confiscated.
How much rice has been declared abandoned so far, according to the Department of Agriculture?
-According to initial data, two containers, equivalent to 54,000 kilos of rice, have been declared abandoned.
What is the concern about rice importers using the 30-day period before rice stocks are declared abandoned?
-The concern is that rice importers may be taking advantage of this period to manipulate supply and artificially increase prices.
Why is the Department of Agriculture monitoring the situation closely?
-The Department of Agriculture is monitoring the situation to decide on the appropriate action to prevent rice importers from manipulating the market by withholding rice stocks.

Outlines

00:00

📊 Millions of Kilos of Rice Stuck in Ports

According to the Bureau of Customs and the Department of Agriculture, millions of kilos of rice are still stuck in Manila ports. There are suspicions that importers are waiting for rice prices to increase before releasing their stock to the market. This situation calls for an investigation into possible hoarding and price manipulation.

🔍 Rice Hoarding and Price Manipulation Investigation

The group Bantay Bigas suggests investigating potential hoarding and price manipulation. It's suspicious that millions of kilos of imported rice remain in storage instead of being sold in the market. The Bureau of Customs notes that after import clearance, rice should be released within a specified period or declared abandoned. There's concern that importers might be exploiting this period to create a false supply issue, thus driving up prices.

💼 DA's Unclear Actions on Rice Importers

The Department of Agriculture has not yet specified its actions regarding rice importers. There are indications that importers might be waiting for better prices before releasing their stock, benefiting from lower storage costs at ports. As of September 24, only a fraction of the imported rice remains in ports, with most stored in private warehouses. Initial data from the Philippine Ports Authority suggest that over 30-day old containers might be considered abandoned.

📦 Abandoned Rice Containers at Ports

Preliminary data from the Department of Agriculture indicate that two containers, or 54,000 kilos of rice, can already be deemed abandoned. This initial report will be expanded with data from the Philippine Ports Authority, detailing the number of containers exceeding the 30-day port storage period.

Mindmap

Keywords

💡Bureau of Customs

The Bureau of Customs is a government agency responsible for overseeing the importation of goods into the Philippines. In the video, they are involved in the issue of rice imports being stuck at ports and are tasked with monitoring and enforcing rules about when imported goods, like rice, must be released or declared abandoned.

💡rice importers

Rice importers are businesses or individuals who bring rice from other countries into the Philippines. In the video, they are accused of possibly hoarding rice stocks at ports to manipulate prices, which could contribute to the rising cost of rice in the market.

💡hoarding

Hoarding refers to the deliberate withholding of goods from the market to create an artificial shortage and drive up prices. The video raises concerns that rice importers may be hoarding rice stocks at ports, waiting for prices to increase before releasing their products.

💡price manipulation

Price manipulation involves artificially inflating or deflating prices for financial gain. In the context of the video, rice importers are suspected of price manipulation by withholding rice stocks, contributing to the spike in rice prices in the Philippines.

💡Department of Agriculture

The Department of Agriculture (DA) is the government agency responsible for promoting agricultural development and food security in the Philippines. In the video, they are monitoring the situation and working with other agencies to investigate whether rice importers are engaging in hoarding and price manipulation.

💡abandoned goods

Abandoned goods refer to items left unclaimed at customs for a period beyond the allowable time frame. In the video, it is mentioned that some rice stocks have been left at ports for over 30 days, making them eligible to be declared abandoned and potentially confiscated by the government.

💡rice stocks

Rice stocks refer to the supply of rice that has been imported and stored, awaiting distribution. The video discusses millions of kilos of rice stocks that are currently stuck at ports, and the concern is that these are being held back to manipulate market prices.

💡customs clearance

Customs clearance is the process of approving imported goods for entry into a country after inspections and necessary documentation are completed. The video mentions that rice stocks are waiting for customs clearance, and delays in this process are contributing to the issue of rice not reaching the market.

💡Philippine Ports Authority

The Philippine Ports Authority is the government body in charge of managing the country's ports. In the video, they are mentioned in relation to providing data on how many containers of rice have been held at ports for more than 30 days and may be subject to confiscation.

💡container vans

Container vans are large shipping containers used to transport goods like rice. The video reports that 888 container vans of rice were imported, and the concern is that a significant portion of these vans remain at the port, potentially being withheld from the market to manipulate prices.

Highlights

Over a million kilos of rice are still stuck at Manila ports, according to the Bureau of Customs and the Department of Agriculture.

There are concerns that rice importers might be waiting for rice prices to increase before releasing the stock.

Bantay Bigas, a consumer group, is calling for an investigation into potential rice hoarding and price manipulation.

Rice importers are allegedly delaying the release of millions of kilos of imported rice instead of immediately distributing them to the market.

The Department of Agriculture and Bureau of Customs are looking into whether rice importers are manipulating the supply to create a false shortage and spike prices.

There is a 30-day period for rice importers to release imported rice from the ports after receiving customs clearance, before it is declared abandoned.

The Bureau of Customs is monitoring whether rice importers are exploiting this 30-day period to artificially inflate rice prices.

The Department of Agriculture has yet to confirm what action will be taken against rice importers delaying rice distribution.

The rice importers may be waiting for better market prices before releasing their stock, benefiting from lower storage fees at the ports.

There are still over 888 containers of rice in private warehouses, as of September 24.

Less than half of the imported rice remains at the ports, according to the Department of Agriculture.

The Philippine Ports Authority will release data on how many containers have exceeded the 30-day limit and can be confiscated.

Initial data from the Department of Agriculture shows that two containers, or 54,000 kilos of rice, have already been considered abandoned.

This delay in the release of rice is contributing to the continued high prices in the market.

Authorities are focusing on preventing rice importers from using inventory delays to manipulate rice prices.