The Department of Agriculture (DA) has issued a special order creating a technical working group (TWG) that will formulate guidelines on the definition and scope of hoarding and other acts of illegal price manipulation for agri-fishery commodities.
Under DA Special Order No. 1379 series of 2023 signed by Secretary Francisco Tiu Laurel Jr. on Tuesday, the creation of the TWG is meant to effectively implement relevant provisions of the Price Act of 1992.
The order tasked TWG to review existing policies and guidelines implementing the Price Act, including its implementing rules and regulations, with respect to agricultural commodities.
The TWG is also tasked to formulate a circular to clarify and determine the scope of hoarding and other illegal acts of price manipulation as stipulated in Section 5 of the Price Act that will later on be endorsed for the approval of the President.
Section 5 of the said law enumerates hoarding, profiteering and cartel as among the acts considered as price manipulation.
The group is also mandated to conduct public consultations and other activities for the planned circular.
The TWG will be chaired by DA undersecretary for policy, planning and regulations Mercedita Sombilla with representatives from DA attached agencies as well as from the private sector.
