The Market Monitor Minding the Nation's Business
The Philippine National Police (PNP) has intensified monitoring of markets and agricultural supply chains as it moved to prevent traders and sellers from taking advantage of supply disruptions caused by tropical cyclones Luis and Maymay and the southwest monsoon or habagat.
PNP chief Gen. Jose Melencio C. Nartatez Jr. said police units nationwide will work with the Department of Agriculture (DA), Department of Trade and Industry (DTI), and local government units to respond to reports of overpricing, hoarding, and profiteering.
Nartatez warned traders against using weather-related damage and disruptions as justification for unreasonable increases in the prices of agricultural products, particularly as affected communities continue to recover.
He said the PNP is maintaining a zero-tolerance policy against unscrupulous practices that could further burden consumers already dealing with the effects of heavy rains and flooding.
The police chief also urged traders and sellers to keep prices fair and reasonable, emphasizing that government agencies must remain responsive to communities affected by disasters and emergencies.
The intensified monitoring comes despite the DA’s assessment that the recent weather disturbances are unlikely to trigger major price increases in agricultural commodities. The department estimated that around 4,500 metric tons of produce were lost to the combined effects of habagat, Luis and Maymay.
The DA said the losses remain relatively small compared with the country’s annual agricultural production of about 20 million metric tons, suggesting that overall supply may remain sufficient to cushion the impact on market prices.
Still, the PNP is urging consumers to remain vigilant and report suspected cases of overpricing, hoarding, and other irregularities to authorities for investigation.
The heightened police monitoring is part of the broader government response ordered by President Ferdinand Marcos Jr. as heavy rains and flooding continue to affect Metro Manila and several areas of Luzon.
Authorities are particularly watching commodity prices and market supply as affected communities rebuild and agricultural producers, traders and distributors deal with the disruptions caused by the recent weather disturbances.