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

Summary

Millions 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.