The government will revoke selling permits of rice traders and retailers caught hoarding National Food Authority rice, Presidential Assistant for Food Security and Agricultural Modernization Francis Pangilinan said yesterday in a government press release.

Pangilinan issued the stern warning during an inspection at the Commonwealth Market.

“Some 374 rice retailers and traders all over the country were already found to be in violation,” Pangilinan said, adding that the most common violation so far, is hoarding the NFA rice supply, or the mixing of the NFA rice to commercial rice.

Violators can face suspension and eventual revocation of permits, Pangilinan said, adding that “this outside the P4,000 up to P10,000 financial obligations.”

Pangilinan added the NFA is closely monitoring the flow of rice from Intercity in Bocaue, Bulacan, the source of 60 percent of the commercial rice reaching Metro Manila markets. Some 200 rice millers and bulk buyers are concentrated in Intercity.

He said they instructed the NFA to double the volume of its distribution, particularly whose stock sold at “P27 and P32 per kilo”.

The urgent measure is an effort to curve the mounting price of commercial rice at the local market, he  also said.*PNA

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