Pres. Marcos Jr. orders DTI, DA to run after rice hoarders, price manipulators

UNTV News and Rescue

16 Aug 202301:24

Summary

TLDRPresident Ferdinand Marcos Jr. has directed the Department of Agriculture and the Department of Trade and Industry to vigilantly monitor rice prices and combat hoarding and price manipulation, especially during the lean months preceding the harvest season. The presidential Communications office confirmed ample rice supply. Retailers are currently selling rice at varying prices, with the cheapest ranging from 38 to 50 pesos per kilo. A rice cellar owner in Manila has noted an increase in prices and a shortage of supply.

Takeaways

🌾 President Ferdinand Marcos Jr has directed the Department of Agriculture and the Department of Trade and Industry to closely monitor rice prices.
🛑 The president is ensuring that rice supply is sufficient despite reports of increasing prices.
🔍 The two departments are tasked with pursuing rice hoarders and price manipulators who exploit the lean months before the harvest season.
📈 There is a reported increase in rice prices in the local markets.
📊 Wilson Santiago, a rice seller in Trabang Market, San Pablo City, Manila, confirms the price increase and shortage of supply.
💰 Retailers are selling rice at varying price points, with the cheapest ranging from 38 to 50 pesos per kilo.
🏛️ The Department of Agriculture (D.A) has noted discrepancies in rice pricing among different retailers.
🙏 The president's message emphasizes serving the people and giving glory to God.
🎵 The script ends with a musical note, possibly indicating a news segment or program's theme music.
🙋‍♂️ The speaker, identified as 'foreign', thanks the audience, suggesting this might be part of a news broadcast or public address.

Q & A

Who has been tasked to monitor rice prices in the local markets?
-President Ferdinand Marcos Jr has tasked the Department of Agriculture and the Department of Trade and Industry.
What is the purpose of monitoring rice prices?
-To ensure that there is sufficient rice supply and to run after rice hoarders and price manipulators who exploit the lean months before the harvest season.
What is the current situation of rice prices in the market according to the transcript?
-The price of rice is reportedly increasing, with some retailers selling at 38 to 40 pesos per kilo as the cheapest and others selling their cheapest variety at 50 pesos per kilo.
What is the term used for the period before the harvest season when rice supply might be scarce?
-The term used is 'lean months'.
Who reported the increase in rice prices?
-The Presidential Communications Office reported the increase in rice prices.
What is the role of Wilson Santiago in the context of the transcript?
-Wilson Santiago is a rice cellar in Trabang Market in Sao Paulo, Manila city, who confirmed the increasing prices and shortage of rice supply.
What measures are being taken to address the issue of rice hoarding and price manipulation?
-The Department of Agriculture and the Department of Trade and Industry are being tasked to monitor the situation and take action against hoarders and manipulators.
What is the significance of the phrase 'we serve the people we give glory to God' in the transcript?
-The phrase suggests a commitment to public service and divine gratitude, possibly reflecting the government's stance on addressing the rice price issue.
What does the transcript imply about the current state of rice supply in the Philippines?
-The transcript implies that there is a concern over the adequacy of rice supply, leading to price increases and potential shortages.
Is there a specific region mentioned in the transcript where the rice prices are increasing?
-Yes, the transcript mentions Trabang Market in Sao Paulo, Manila city.
What is the government's stance on ensuring rice supply as mentioned in the transcript?
-The government, through the President's directive, is ensuring that rice supply is sufficient and is taking action against those who exploit the situation for personal gain.

Outlines

00:00

📈 Monitoring Rice Prices and Supply

President Ferdinand Marcos Jr has directed the Department of Agriculture and the Department of Trade and Industry to vigilantly monitor rice prices in local markets. This directive comes in response to concerns over potential rice hoarding and price manipulation, especially during the lean months preceding the harvest season. The presidential Communications office has confirmed that rice supply is sufficient. Wilson Santiago, a rice seller in Trabang Market in Sao Paulo, Manila, has observed an increase in rice prices and a shortage in supply. Retailers have been reported to sell rice at varying price points, with the cheapest options ranging from 38 to 50 pesos per kilo.

Mindmap

Keywords

💡Ferdinand Marcos Jr

Ferdinand Marcos Jr is the President of the Philippines, as mentioned in the script. He is tasked with overseeing various aspects of governance, including the economic and agricultural sectors. In the context of the video, he is ensuring the sufficiency of rice supply and monitoring prices, which is a critical aspect of food security and economic stability in the country.

💡Department of Agriculture

The Department of Agriculture is a government agency in the Philippines responsible for the development and regulation of the agricultural sector. In the script, it is tasked by the President to closely monitor rice prices, indicating its role in maintaining the stability and affordability of food staples like rice for the public.

💡Department of Trade and Industry

The Department of Trade and Industry is another government agency in the Philippines, responsible for promoting industry, enhancing competitive advantage, and ensuring fair trade. The script mentions that this department is also involved in monitoring rice prices, suggesting its role in preventing unfair trade practices and price manipulation.

💡Rice prices

Rice prices are a significant economic indicator in countries where rice is a staple food, such as the Philippines. The script discusses the President's directive to monitor these prices to ensure they remain stable and affordable, highlighting the government's concern for the well-being of its citizens and the prevention of economic exploitation.

💡Rice hoarders

Rice hoarders are individuals or entities that accumulate large quantities of rice, often with the intent to sell it at higher prices during times of scarcity. The script mentions the President's order to pursue these hoarders, indicating a strategy to prevent artificial shortages and price spikes that can harm consumers.

💡Price manipulators

Price manipulators are those who artificially influence the market prices of goods, such as rice, to their advantage. The script refers to the President's efforts to combat such practices, which can lead to unfair economic conditions and harm the general public by driving up the cost of essential goods.

💡Lean months

The term 'lean months' refers to periods when the supply of a particular commodity, such as rice, is low due to seasonal factors like the harvest cycle. The script mentions that the President is aware of the potential for price increases during these times, and thus is taking proactive measures to ensure the supply remains sufficient.

💡Harvest season

The harvest season is a critical period in agriculture when crops are gathered and brought to market. In the context of the video, it is implied that the President is monitoring the rice supply in anticipation of the harvest season to ensure that there is no shortage and that prices remain stable.

💡Rice supply

Rice supply refers to the availability of rice in the market, which is a key concern for the government, especially in a country where rice is a primary food source. The script emphasizes the President's assurance of sufficient rice supply, reflecting the government's commitment to food security.

💡Retailers

Retailers are businesses that sell goods directly to consumers. In the script, it is mentioned that retailers are selling rice at different price points, which could indicate variations in pricing strategies or supply conditions. The government's monitoring of these prices is part of its efforts to ensure fair and stable pricing for consumers.

💡Price points

Price points refer to the specific prices at which goods are sold. The script notes that rice is being sold at different price points, which could be a reflection of market dynamics, supply and demand, and the government's efforts to regulate and monitor these prices to protect consumers.

Highlights

President Ferdinand Marcos Jr. tasks the Department of Agriculture and the Department of Trade and Industry to monitor rice prices.

Rice supply is confirmed sufficient by the presidential Communications office.

Agencies are asked to pursue rice hoarders and price manipulators.

Price manipulation occurs during the lean months before the harvest season.

Reported increase in rice prices in the market.

Rice Cellar in Trabang Market, Sao Paulo, Manila, reports increasing prices and supply shortage.

Retailers sell rice at varying price points, from 38 to 50 pesos per kilo.

The D.A. reports on the disparity in rice prices among retailers.

The government's commitment to serve the people and give glory to God.

Foreign acknowledgment and thanks expressed.

Music signifies a transition or conclusion in the transcript.