EDITORIAL - Rice supply probe

The National Bureau of Investigation is investigating the possible hoarding of rice in Central Visayas in the wake of reports about shortage of supply, especially from the National Food Authority, in the country.

NBI-7 acting Regional Director Dominador Cimafranca said they have been going around the region to see if there is indeed rice hoarding. Part of their investigation, which started last week, is to inspect warehouses of both the NFA and private rice distributors in Cebu Province and Central Visayas.

The NBI investigation came after the Department of Justice tapped the agency to go after those rice hoarders amid reports of rice shortages across the country, with the Department of Agriculture giving a P250,000 reward to those who can give information on rice hoarders.         

The Duterte administration assured there is still enough rice in the country. But how come many areas have declared a state of emergency over the past weeks over the lack of rice supply, which has shoved prices to skyrocket?

Besides, such assurance failed to prevent rice prices from soaring ever since reports on acute supply shortage started to circulate. And if there are enough stocks in the market as assured by the Department of Agriculture, then why have some areas been reporting serious shortage of rice supply?

As its investigation goes full blast, the NBI should not only look into the hoarding reports. It also needs to go after those rice traders who take advantage of supply shortage reports by jacking up their prices. In the first place, prices should not have gone up if there was enough rice supply in the market.

Authorities have yet to determine whether or not there really is hoarding of rice in the country. But the reality is that, prices have been hiking ever since reports about supply shortage broke out, something that merits serious investigation.