Smuggled rice fetches P233M

CEBU, Philippines - The Bureau of Customs (BOC) in Cebu successfully sold the 174,720 bags of seized smuggled rice at P233,413,083.60.

The amount is higher by P9,771,483.60 than the floor price of P223,641,600.00 during the public auction held yesterday at Mariner’s Court in Cebu City.

“I am very grateful. Let us keep this up. Maraming salamat sa inyo,” said BOC Cebu District Collector Edward dela Cuesta after the public auction attended by several bidders nationwide.

This is the third bidding that the bureau conducted out of the 607,880 bags of smuggled rice seized last April. It has an estimated value of P900 million to P1 billion.

“If consignees of these shipment paid taxes, they could have only paid P400 million but since they misdeclared this shipment, they lost everything,” said dela Cuesta in a press conference.

Dela Cuesta said that they will still be having a meeting with the auction committee to determine whether there will be two or one more auction for the remaining 419 container vans loaded with 217,880 bags of rice.

“I want these remaining shipment to be immediately disposed kasi malapit na ang harvest season at baka maapektuhan yung presyo namin,” dela Cuesta.

The next bidding is scheduled to be held by the middle of September. As appraised by the National Food Authority, the BOC put a floor price of P1,280 per bag.

There were 18 winning bidders yesterday for the 37 lots with at least 5,200 bags each at a floor price of P6,656,000.

The winning bidders were ETB Agro Commercial Trading, Charline General Merchandise, Paracao General Merchandise, Dorongan Punta Women’s Farmer MPC, Intercontinental Grains and Dragon Grains Trading, at three lots each.

Those who won with two lots each were Nursery Farmers, Queencar Agricultural Store, Pacific Rim, Annie Tonias Store, RMJR Grains Center and Angel Gabriel.

RPS General Merchandise, Queen Mary, Boss Marcing General Merchandise, RPS General Merchandise an Faerdig General Merchandise won one lot each.

The bureau earlier earned P252,702,132 for the previous auctions. The auctioned rice was part of the 607,880 bags seized smuggled rice from Vietnam. It was dubbed as the “mother of all smuggled rice”.  (FREEMAN)