Romualdez renews drive vs. onion price manipulation

MANILA – Speaker Martin Romualdez on Wednesday renewed his push for a clampdown on hoarders and price manipulators in a bid to lower the price of onion in the market.

Romualdez said hoarders are active once again in the price manipulation of onions, noting that the retail price of the widely-used agricultural product has started to skyrocket from P90 to P180 recently based on the monitoring of the House Committee on Agriculture and Food.

"Nagsisimula na namang maging aktibo ang mga hoarders at price manipulators ng sibuyas (The hoarders and price manipulators have started to become active again). We will nip this problem in the bud. Hindi natin papayagan na pumalo ang presyo nito sa halagang di abot-kaya ng ordinaryong Pilipino (We will not allow the price to become too expensive for ordinary Filipinos)," Romualdez said.

"Akala yata ng mga hoarders at price manipulators na ito, hindi natin sila binabantayan. Sa pagkakataong ito, hindi nila tayo malulusutan (These hoarders and price manipulators probably think that we are not monitoring them. This time around, they will not get away with this)," he added.

He said he would enlist the help of all branches of government to bring down the price of onion.

Romualdez said he has asked officials of the Bureau of Plant and Industry (BPI) to report to his office so they can explain to him and other House leaders why unscrupulous hoarders are able to manipulate onion prices once again.

He said onion farmers had already sold their harvest to wholesalers, yet the supply remains scarce that led to a higher price of onion.

"Sa report na natanggap namin, naibenta na ng mga magsasaka ang harvest nila. Ibig sabihin, nasa cold storage na ang mga ito at pinipigil lang ang release sa market para mapataas ang presyo. Ito ang modus operandi na nadiskubre ng House Committee kung kaya napatigil natin ito noon (Based on the reports we have received, the farmers have already sold their harvests. That means, the onions are in cold storage and are not released in the market to bring the prices up. The House committee discovered this modus operandi, which was put to a stop before)," Romualdez said.

Romualdez brought up the possibility of importing onions to address low supply and soaring prices.

"Kung hindi nila ilalabas ang mga produkto nila, baka mapilitan ang gobyerno na mag-import ng sibuyas. Hindi naman maaapektuhan ang mga magsasaka dahil wala na sa kanila ang mga produkto nila. 'Yung mga hoarders at price manipulators ang siguradong malulugi kung may importation (If they can't release the agricultural product, then the government would be forced to import onions. This would not affect farmers because their products are not with them anymore. If anything, the hoarders and price manipulators would definitely be on the losing end if there is importation)," he said.

Earlier in the day, the House Committee on Agriculture and Food, chaired by Quezon Representative Wilfrido Mark Enverga, resumed its inquiry into the possible hoarding and other acts of price manipulation by unscrupulous traders of agricultural commodities, particularly onion and garlic.

Cavite Rep. Elpidio Barzaga Jr. stressed that policies must be set to prevent the hoarding of agricultural commodities.

Barzaga expressed alarm that onions deposited last March to April 2023 were still kept in cold storage warehouses.

He said the owners may be thinking of withdrawing the commodities only when prices increase by the last quarter of the year.

Department of Agriculture – Bureau of Plant Industries (DA-BPI) Director Gerald Glenn Panganiban assured members of the panel that the country's supply of onion is sufficient until December 2023. (PNA)