House to probe gap between farmgate and retail prices

THE HOUSE of Representatives is set to probe the widening gap between the cost of farmgate products and their retail prices once Congress resumes, Speaker Ferdinand Martin G. Romualdez said on Wednesday.

Agriculture sector representatives said they maintained the farmgate prices of rice, poultry, and pork for the past three months, indicating that there should be no changes in the prices of these products in the market.

“The discrepancy between farmgate and retail prices of basic goods is alarming and warrants immediate attention,” Mr. Romualdez said in a statement.

Food inflation rose to 5.7% in March, its fastest increase in four months. Costs of rice, corn, flour, and bread products accelerated to 19.8% from 18.9% in the previous month. Prices of slaughtered meat also quickened to 1.9% from 0.9% in February.

Mr. Romualdez directed Quezon Rep. Wilfrido Mark M. Enverga, who chairs the House Agriculture and Food Committee, to launch an inquiry into the “disconnect between farmgate and retail prices of basic goods.”

The House is also looking to review a set of retail laws to protect farmers and consumers from persons seeking to profit by causing inefficiencies in the supply chain.

“It is imperative that we conduct a comprehensive review of our laws to ensure that they effectively safeguard the interests of our farmers and consumers,” he said.

The review will aim to identify loopholes that allow unfair pricing practices along the supply chain, Mr. Romualdez said. — Kenneth Christiane L. Basilio