A lawmaker raised concerns over what she described as possible preferential treatment given to Planters Products Inc. (PPI) following its sudden rise as one of the country’s largest rice importers.
In a privilege speech delivered during Wednesday’s Senate plenary session, Senator Risa Hontiveros called for closer scrutiny into the company’s rapid expansion in rice importation despite its past links to alleged crony capitalism and controversial government transactions.
The senator clarified that rice importation itself is not illegal, but she questioned how PPI was able to dramatically increase its imports within a short period.
She said the PPI imported more than 86,000 metric tons of rice in less than a year, with around 63,000 metric tons, or roughly 73 percent of the total, arriving in January 2026 alone.
The senator said the sudden surge quickly placed PPI among the country’s top rice importers.
She also questioned how the company financed the large-scale importation program despite its reported financial condition.
Citing audited financial statements submitted to the Securities and Exchange Commission for fiscal year 2023-2024, she noted that PPI reportedly had only around P536 million in equity and even posted net losses during the period.
“Yet we are told that it was able to mobilize around P2 billion to finance these imports. The question is: where did the money come from?” Hontiveros said.
The senator also pointed to PPI’s long-standing connection to the controversial fertilizer levy issue during the first Marcos administration.
She cited a 2008 ruling by the Supreme Court of the Philippines in the case involving PPI and Fertiphil Corporation, where the fertilizer levy was declared unconstitutional for allegedly benefiting a private corporation using public funds.
According to the senator, the ruling raised continuing questions about whether PPI should be considered a private company or a government-owned or controlled corporation (GOCC).
“If it is a private company, why does it appear to receive preferential treatment in obtaining permits from the Bureau of Plant Industry?” she asked.
The senator also cited a report from the Times of India stating that PPI had entered into an agreement with India’s Telangana Civil Supplies Corporation while allegedly representing the Philippine government.
She further noted that the Department of Agriculture continues to describe PPI as a “sequestered company” under government administration because of past allegations involving ill-gotten wealth and cronyism.
Hontiveros added that nearly 80 percent of PPI’s shares are reportedly held in trust for farmers through the PPI Foundation Inc., which she said has government officials sitting on its board.
“What we are seeing carries the familiar signs of crony capitalism — where closeness to power results in privilege while ordinary farmers and consumers are left behind,” she said.
The senator called for transparency regarding the company’s operations, asking whether public funds were used, whether permits were fast-tracked, and who ultimately benefits from the arrangement.
“The Filipino people deserve clear answers,” Hontiveros said.