Traders who hoard Philippine rice face life imprisonment, government warns

MANILA, Philippines (AP) – Traders found hoarding rice while the country struggles to maintain sufficient stocks of its staple grain could be charged with economic sabotage, a crime that carries a life sentence, the justice secretary said Thursday.

Government agents have been raiding warehouses in a hunt for unscrupulous traders and warehouse owners holding on
to rice stocks amid spiraling prices and fears of a shortage, Justice Secretary Raul Gonzalez said.
The amount of rice hoarded and the resulting effect on the country’s economy would determine whether economic sabotage charges could be filed, Gonzalez told The Associated Press.


…Rice prices have jumped 50 percent in the past two months on world markets and at least doubled since 2004. Experts blame rising fuel and fertilizer costs as well as the effect of disease, pests and climate change on crops. Farmers’ groups have warned that prices could rise a further 40 percent in coming months.

The higher prices have already sparked protests in the Philippines, where a government official has asked the public to save leftover rice and communist rebels have vowed to take advantage of the situation to stir up public unrest.

AP