Again, price manipulation

With rice retail prices refusing to go down despite tariff cuts and the resulting flood of imports, the nation is again hearing officials talking about cartels and price manipulation.

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Whether the talk will lead to anyone being indicted for price manipulation or cartel-like operations remains to be seen.

Since last year, rice prices have been going up, due mostly to El Niño and India's consequent ban on its export of non-basmati rice as well as geopolitical tensions that have disrupted global supply chains.

The high prices have been fueling food inflation in the Philippines, which in turn has accounted for the biggest component of headline inflation.

All surveys by reputable pollsters have consistently shown the administration getting the weakest points in taming inflation.

This is despite the provision of rice at heavily subsidized prices along with other commodities in the Kadiwa outlets.