Wednesday, May 18, 2011

Chinese businessman bags 900 million pesos worth of imported rice

With all these anomalies happening at the National Food Authority (NFA), it is not of course surprising why food prices are extremely high here in the Philippines. Prices of rice are being manipulated by unscrupulous individuals who are very close to the Powers. And like what we exposed here at NPR, the NFA just admitted that there is a big cartel of rice traders controlling the agency.

Fact is, we learned that a Chinese businessman just bagged the 900 million pesos worth of rice to be imported. This Chinoy is reportedly very close to Malacanang. How did he do it when it is illegal for an individual to import rice without prior knowledge or a permit from NFA? Rice importations are allowed only thru legitimate farmer cooperatives. 

Malacanang should file the necessary charges against rice traders who are part of this huge rice cartel. This is teach them a lesson not to influence the price of this basic commodity.