President Ferdinand Marcos Jr signed the Anti-Agricultural Economic Sabotage Act, which punishes persons running cartels by life imprisonment last Thursday.

"By eliminating smuggling, hoarding, profiteering, and other cartel activities, we are not only shielding our local producers but also providing consumers with affordable agricultural and fishery products," Marcos said.

He said the law classifies smuggling, hoarding, and profiteering of agricultural and fishery products as economic sabotage. It is a non-bailable offense punishable by life imprisonment and fines up to five times the value of the goods involved.

The Marcos administration went after hoarders after shortages of agricultural products occurred a few months after being elected in 2022. Officials were arrested and warehouses were opened by authorities.

Under the law, Marcos will lead the soon-to-be created Anti-Agricultural Economic Sabotage Council (AAESC), which will set the anti-smuggling policies.

The Anti-Agricultural Economic Sabotage Enforcement Group will serve as the enforcement arm of the AAESC and tasked to dismantle smuggling operations and apprehend offenders.

Marcos said the government lost over P3 billion pesos to agricultural smuggling in 2023, while authorities were able to seize over P230 million worth of smuggled agricultural products in previous months. DMS