THE National Bureau of Investigation in Central Visayas (NBI 7) is investigating two companies in Cebu for allegedly hoarding several sacks of rice.
“Hoarding means stockpiling sacks of rice or cutting the supply of rice so prices will go up,” Regional NBI-7 Director Max Salvador said in an interview yesterday.
He said the NBI will ask the owners of the two companies to explain before conducting any operation.
“At the end of the day, we will know if they have complete documentary evidence or not,” Salvador said.
If proven that the two companies are indeed hoarding rice, Salvador said they will secure a search warrant from the court and confiscate the goods.
For now, he refused to identify the two companies to avoid compromising the investigation.
“Hoarding is really an economic obstacle. We’ve underwent calamities in the past months and it’s really sad if traders take advantage of these occurrence,” Salvador said.
He said the NBI earlier signed an agreement with the National Food Authority (NFA) for them to run after those involved in rice hoarding, smuggling and illegal trade.