Versuchen GOLD - Frei
DA chief refutes claim tying First Lady to rice cartel
Business World Philippines
|November 28, 2025
AGRICULTURE Secretary Francisco P. Tiu Laurel, Jr. on Thursday dismissed claims of resigned Party-list Rep. Elizaldy S. Co that he shielded a rice cartel allegedly tied to First Lady Marie Louise Araneta-Marcos as “fabricated lies.”
-
In a press briefing on Thursday, Mr. Tiu Laurel refuted allegations that he halted a House inquiry into rice prices after showing a confidential report implicating the first lady.
“This is not true. He is completely lying. The first lady has never meddled in any Department of Agriculture (DA) matters. Her name does not appear in any report we submitted to Congress,” Mr. Tiu Laurel said in a mix of English and Filipino.
This followed the release of a video statement, in which Mr. Co accused Ms. Marcos of being involved in a scheme that has kept prices of the staple grain artificially high despite reduced import duties.
He said Ms. Marcos was “in charge of the rice importers” that lawmakers began looking into due to elevated rice prices despite the rice import tariff being cut to 15% from 35%.
Mr. Co alleged that congressmen prematurely ended their investigation after the Agriculture secretary presented a document linking Ms. Marcos to the rice trade, prompting then-House Speaker Ferdinand Martin G. Romualdez and Ilocos Norte Rep. Ferdinand Alexander “Sandro” A. Marcos III to call for its termination.
Mr, Tiu Laurel also denied the ex-lawmaker’s allegations that the first lady’s brother, Martin Araneta, is involved in onion smuggling and market manipulation that led to the 2022 price spike. “In my two years as Secretary of Agriculture, he has never made a single importation request,” he said.
The Agriculture secretary also addressed claims that the DA favored certain companies in giving import allocations, saying it was Mr. Co who repeatedly sought massive allocations for his nominated companies.
“It was Zaldy Co himself who asked me for 3,000 containers of imported fish to be allocated to his nominated companies. It’s clear that I did not grant his request because we already have a fair and transparent system for everyone to level the playing field,” he said.
Diese Geschichte stammt aus der November 28, 2025-Ausgabe von Business World Philippines.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Business World Philippines
Business World Philippines
Damosa Land targets full sell-out of Samal condotel units this year
DAVAO-BASED property developer Damosa Land, Inc. (DLI said it is targeting a full sellout of units in its newly launched condominium-hotel project TRYP by Wyndham Samal this year, citing growing interest in beachfront and resort-style properties in the region.
2 mins
February 03, 2026
Business World Philippines
Dilaw releases album in CD format
Physical form helps build stronger connection to the art
2 mins
February 03, 2026
Business World Philippines
PSEi slips to 6,200 on weak GDP, profit taking
PHILIPPINE EQUITIES retreated to the 6,200 level on Monday as investors reacted to weaker-than-expected economic growth and booked profits ahead of key inflation data.
2 mins
February 03, 2026
Business World Philippines
SEC complaint vs Villar Land under review, says DoJ
THE DEPARTMENT of Justice (DoJ) on Monday said the criminal complaint filed by the Securities and Exchange Commission (SEC) against Villar Land Holdings Corp. will first undergo evaluation to determine whether it is ready for preliminary investigation (PI).
1 mins
February 03, 2026
Business World Philippines
BMI keeps 5.2% growth estimate
FITCH SOLUTIONS unit BMI has kept its 2026 growth forecast for the Philippines despite the last year's miss as it expects public and private investments to recover.
3 mins
February 03, 2026
Business World Philippines
Jan. factory PMI at nine-month high
PHILIPPINE FACTORY activity in January expanded at its fastest pace in nine months amid an increase in production and new orders, S&P Global said on Monday.
3 mins
February 03, 2026
Business World Philippines
Bad Bunny wins top Grammy prize, first ever for Spanish-language album
Bad Bunny, the Latino rap star whose forthcoming Super Bowl gig has ignited a culture wars controversy, won the top Grammy prize on Sunday, a first for a Spanish-language album, with Debi Tirar Mds Fotos, a celebration of his Puerto Rican roots.
3 mins
February 03, 2026
Business World Philippines
Dado Banatao: Founding Father of PC Hardware
Diosdado “Dado” Banatao, a Silicon Valley giant as the Founding Father of Personal Computer Hardware, was a most practical but quiet nationalist who deserves recognition as a Philippine hero in the global knowledge age.
5 mins
February 03, 2026
Business World Philippines
India allows foreign firms to fund equipment without tax risk
India's government on Sunday handed a major win to Apple by allowing foreign companies to provide machines to their contract manufacturers in certain areas for five years without any tax risk.
2 mins
February 03, 2026
Business World Philippines
SC justices themselves violated the Rule of Law
On Jan. 28, in a unanimous vote of all participating associate justices, the Supreme Court (SC) affirmed with finality its July 25, 2025, decision, which declared the articles of impeachment against Vice-President Sara Duterte unconstitutional.
6 mins
February 03, 2026
Listen
Translate
Change font size
