Prøve GULL - Gratis

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.

FLERE HISTORIER FRA Business World Philippines

Business World Philippines

Business World Philippines

Arte ni Juana turns indigenous weaves into modern handbags

ARTE NI JUANA, a Cebu-based fashion brand, is carving out a niche in local and overseas markets by turning traditional Filipino weaving into modern handbags while providing steady income to women artisans across the Visayas.

time to read

2 mins

February 04, 2026

Business World Philippines

Business World Philippines

5 Al principles business leaders must not lose sight of

Last Friday, we concluded the State of the Nation in AI Summit, attended by hundreds of industry practitioners, senior executives, and government officials.

time to read

4 mins

February 04, 2026

Business World Philippines

Treasury fully awards T-bonds after dovish signals from BSP

THE GOVERNMENT fully awarded the Treasury bonds (T-bonds) it offered on Tuesday, locking in a lower average yield after dovish signals from the Bangko Sentral ng Pilipinas (BSP) following weaker-than-expected economic growth in 2025.

time to read

2 mins

February 04, 2026

Business World Philippines

PHL at risk of ‘dirty money’ list return amid corruption mess

The Philippines is working to tighten its safeguards to ensure it stays off a global financial crime watchdog’s list of jurisdictions with high “dirty money” risks as a corruption scandal has highlighted potential gaps in the monitoring of illicit flows.

time to read

3 mins

February 04, 2026

Business World Philippines

Business World Philippines

From giant paintings to 19th century newspapers: Annual ACC auction funds more art fellowships

TO SUPPORT Filipino artists and scholars’ fellowships abroad, the Asian Cultural Council Philippines Foundation, Inc. (ACC Philippines), is set to auction off major artworks on Feb. 14 at the Leon Gallery.

time to read

3 mins

February 04, 2026

Business World Philippines

Tourism department seeks broader foreign tourist markets

THE DEPARTMENT of Tourism (DoT) said that it is seeking to broaden the country's visitor base, reducing reliance on its key Asian markets and strengthening foreign tourism arrivals.

time to read

1 mins

February 04, 2026

Business World Philippines

Business World Philippines

PHL, Japan finalize amended double taxation deal

THE PHILIPPINES and Japan have finalized an amended double taxation convention (DTC) aimed at keeping bilateral economic ties aligned with the evolving global business climate, the Department of Finance (DoF) said.

time to read

2 mins

February 04, 2026

Business World Philippines

Business World Philippines

Lessons from South Korea and Finland

The Philippines can learn from Japan and Singapore about how to develop civic mindedness among its citizens through the appropriate early childhood education.

time to read

4 mins

February 04, 2026

Business World Philippines

Business World Philippines

A national consensus on China

Two trusted and independent polling firms conducted surveys, both in December 2025, to gauge Filipinos' sentiment on our giant neighbor China.

time to read

3 mins

February 04, 2026

Business World Philippines

Debt hits record P17.71 trillion in 2025

THE PHILIPPINES’ outstanding debt climbed to a record P17.708 trillion at the end of 2025, exceeding the government's projection amid increased issuances and a weaker peso.

time to read

4 mins

February 04, 2026

Listen

Translate

Share

-
+

Change font size