Section 3
SEC. 3. For the purposes of this Act, a monopoly or hoarding of palay, rice, or corn shall be considered to exist: (1) whenever any person other than a dealer in or industrial using said products shall have in his possession, or shall have contracted for himself for a quantity of said products in excess of that reasonably necessary for the use of himself and his family; (2) or whenever any industrial or wholesale or retail merchant, or any agent of the same, shall have in his possession or shall have contracted for himself for a quantity of said products greater than that ordinarily required for his business during a reasonable period; (3) or whenever any person, for the purpose of unreasonably raising or decreasing the prices/shall withdraw said foodstuffs from the market, retaining them either in his own possession or in the hands of another, under any contract or arrangements made with the latter: Provided, That the storing or accumulation of the said foodstuffs by any planter or cooperative association of planters of said foodstuffs shall not be deemed a hoarding or monopoly prohibited by this Act, if such foodstuffs are of their own production.