FINANCE Secretary Ralph Recto has assured the public the Department of Finance (DoF) and the Bureau of Customs (BoC) are ready to fully implement the anti-agri economic sabotage law to end agricultural smuggling, profiteering and hoarding.

In a statement on Friday, Recto said Republic Act (RA) 12022, or the Anti-Agricultural Economic Sabotage Act, signed by President Ferdinand Marcos Jr. on Thursday, will put an end to rampant smuggling, cartels, profiteering and hoarding of agricultural products to ensure food security for Filipinos.

"The new law gives more teeth to the government to relentlessly run after smugglers whose illegal activities undermine our farmers, fisherfolk and consumers. Through a stronger and stricter crack down on these offenders, we protect our people's access to affordable goods and boost our revenue collections, which will allow the government to provide more essential public services to Filipinos," the finance chief said.

"It sends a very strong message to smugglers, hoarders and profiteers that their days of unscrupulous activities are numbered," he added.

The law expands the coverage of illegal activities classified as acts of economic sabotage involving agricultural products not previously covered under the Anti-Agricultural Smuggling Act of 2016.

Under the law, the term agricultural products shall now cover livestock, aquatic products and tobacco.

Perpetrators now face a penalty of life imprisonment and a fine of five times the value of agricultural and fishery products subject to the crime.

RA 12022 empowers the BoC in conducting and implementing the Letter of Authority to take action against corporations or entities involved in acts of economic sabotage.

It also equips the BoC with clear parameters to identify and penalize these unlawful practices.

"This Act will not only help the BoC penalize those who violate the law but will also act as a clear deterrent to future offenders. We are committed to holding economic saboteurs fully accountable for their actions," BoC Commissioner Bienvenido Rubio said in a statement also on Friday.

"The Bureau reaffirms its commitment to ensuring the provisions of the Act are fully implemented to stabilize agricultural prices and protect local industries," he added.

The BoC said it has implemented strategies to bolster its efforts to combat agricultural smuggling through enhanced intelligence coordination, the integration of technology for better border control and stringent enforcement and legal measures.

From January 2023 to August 2024, the BoC conducted 1,803 successful agricultural smuggling seizure operations, with an estimated value of P3.70 billion.