NFA denies rice hoarding in Misamis port terminal

Officials of the National Food Authority in Region 10 (NFA-10) said on Friday there was no rice hoarding at the Mindanao Container Terminal (MCT) sub-port in the Misamis Oriental town of Tagoloan.

The NFA-10 officials issued the statement following reports that there have been deliberate effort to hoard commercial rice supplies that passed through the port and stored in its own storage facility.

NFA-10 information officer Hazel Belacho said their own monitoring of the rice supplies currently stored at the MCT and owned by from private importers did not indicate any hoarding activity.

Belacho said they have not also received reports pertaining to any hoarding in at the MCT or in private warehouse of commercial grains dealers.

NFA-10 Assistant Director Apolinario Buerano said there was no reason for rice dealers to hoard their stocks as “this is the best time to sell rice since the price in the market is high.”

“Why hoard it (rice) when now is the opportunity to sell it at a very good price?” Buerano said, adding that the harvest season is near and fresh supplies will be flooding the local markets in the coming days.

According to Belacho, hoarding can only happen if grains dealers have an “unusual” accumulation of rice stocks in their warehouses. Per regulations, she said NFA requires grains dealers to regularly submit their own inventory, and this is then verified by the agency’s field staff onsite.

“If you see piles of rice bags inside the warehouse, it doesn’t mean that’s hoarding,” Belacho explained, adding that what constitutes violation is when there is a “holding back” of selling rice by the dealer.

Even so, she said the NFA has enough rice supply in its warehouses for the entire region.

Nevertheless, the City Price Coordinating Council (CPCC)  here said it will continue monitoring suspected hoarding of rice supplies in the city.

“We will inspect the warehouses of rice traders to see whether there is hoarding or not,” said City Councilor George Goking, a CPCC member.

Goking and other CPCC members visited the MCT and its examination facilities in Tagoloan on Friday, following reports that commercial grains dealers have deliberately stashed their rice supply at the port–to the detriment of consumers.

Goking said they are satisfied with their findings, but made it clear that the local government will continue monitoring any potential hoarding activity in the city. (PNA)

 

 

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