EDITORIAL - Punish opportunists

Some businesses thrive during disasters. These days manufacturers cannot produce instant noodles fast enough. There is a big demand for canned sardines and bottled water. As many communities remain submerged in floods, a higher demand for inflatable beds and underwear has been noted. And with rotating blackouts, demand for candles, already up because of the approaching days for commemorating the dead, is even higher. The spikes in demand for these products are the result of natural market forces.

But there are also those who take advantage of other people’s misery to make a big profit. These unscrupulous entrepreneurs can create artificial shortages by hoarding their goods to push up prices. Rice is a commodity that is commonly hoarded. “Ondoy” and “Pepeng” struck after the rice harvest, and floodwaters are expected to subside in time for the next planting cycle, so there should be no rice shortage. The government should come down hard on anyone caught hoarding the staple.

While authorities monitor artificial supply shortages, concerned sectors must keep an eye on the planned importation of rice by the government. Special vigilance is needed if the government decides to do away with public bidding and other regular procurement requirements because the purchase is being made under a state of calamity. International rice prices can be obtained online to check if the government is buying the country’s buffer rice stock at legitimate prices.

Non-perishable necessities such as liquefied petroleum gas can also be hoarded. The government can work with LPG dealers’ associations to ferret out unscrupulous businessmen. Once caught, they must be punished to the full extent of the law to serve as a warning to others.

With the ill effects of climate change unlikely to be reversed in the near future, the country should brace for more catastrophic disasters, all of which could provide opportunities for unscrupulous businessmen to make a big buck out of other people’s suffering. The country has sufficient laws to punish such opportunists. All that is needed is strict enforcement.