Teodoro warns hoarders, manipulators ahead of La Niña

MANILA, Philippines — Defense Secretary Gilberto Teodoro Jr. has warned hoarders and price manipulators against profiting from people’s misery as the country transitions to the La Niña weather phenomenon.

Teodoro, chairperson of the Presidential Task Force on El Niño, made the warning during the task force meeting.

He said the Department of National Defense is ready to provide support to agencies involved in the price monitoring of basic necessities and prime commodities.

Curbing price manipulation and holding hoarders accountable will be among the priorities in government response.

“Access to affordable basic commodities such as rice is exceptionally crucial to millions of Filipino consumers. Any sudden fluctuation in the price of rice resonates on the daily lives of Filipinos,” Teodoro said.

“Whatever support is needed by the Department of Trade and Industry and the Department of Agriculture, rest assured we are here ready to assist them,” he added.

Teodoro said there is a need to intensify price and supply monitoring efforts in markets to protect consumers from profiteering amid the weather phenomenon.

President Marcos’ executive order directs the task force to develop a comprehensive disaster preparedness and rehabilitation plan for El Niño and La Niña to provide “systematic, holistic and results-driven interventions” to help the public cope and minimize their devastating effects.