AGRICULTURAL groups said that the Price Act fails to address the distorted value chain for farm and fishery commodities, which makes necessary the establishment of a monitoring system.
Federation of Free Farmers (FFF) National Manager Raul Montemayor said that the primary goal of the Price Act is to curb profiteering and price manipulation, especially during crises.
He added that achieving this goal requires a robust monitoring system to identify such practices and impose penalties on violators.
"Most of the illegal activities arise during periods of short or tight supply, so the government should also be able to anticipate such eventualities and, if possible, prevent them from happening so that the crisis does not occur," said Montemayor.
The Samahang Industriya ng Agrikultura (Sinag), for its part, said that the Price Act does not actually address the gap between farmgate and retail prices of agricultural commodities.
"Unfortunately, the Price Act does not capture the skewed value chain prevailing in our agri commodities, contributing to high prices," said Sinag Executive Director Jayson Cainglet.
He also said that the gap between farmgate and retail prices across commodities are actually wide.
"We partially address the disconnect, then we address partially the undue high retail prices of some agri commodities," Cainglet suggested.
He also said that it is essential to address the unseen forces influencing the gap between farmgate prices and retail prices to investigate potential profiteering or price manipulation.
Last week, Agriculture Secretary Francisco Tiu Laurel Jr. announced the formation of a technical working group (TWG) tasked to draft the rules and regulations to implement Section 9 of the Price Act relating to agricultural products.
The "Price Act," or Republic Act (RA) 7581, aims to help stabilize the supply and prices of essential goods and prime commodities.
Its purpose is also to protect consumers from unjustifiable price increases and promote fair practices in the market.
The Department of Agriculture was designated as the lead agency responsible for stabilizing prices of agricultural crops, fish and marine products, fresh meat, fresh poultry, dairy products, fertilizers, and other farm inputs during emergencies.
Through Special Order 18 issued by Laurel, Section 9 of RA 7581 was emphasized, which provides for the allocation of a buffer fund for the procurement, purchase, importation, or stockpiling of essential goods and prime commodities.
This fund is intended to address shortages and influence market prices as needed.
Assistant Secretary for Policy Research and Development Noel Padre was designated as head of the eight-member TWG.
Assistant Secretary for Regulations lawyer Paz Benavidez 2nd was named co-chairman, while director Jerome Bunyi, officer in charge of the Policy Research Service, was appointed vice chairman.
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