Philippines imports 500,000 MT of rice to increase stock -photocredits: Bernard Testa
Philippines imports 500,000 MT of rice to increase stock
-photocredits: Bernard Testa

 

Manila, Philippines – The National Food Authority prepares as the Philippines imports 500, 000 tons of rice this year to increase its stock after the damage caused by Typhoon Glenda on major rice cultivation areas.

According to Francis Pangilinan, presidential assistant for Food Security and Agriculture Modernization, the entire volume would be imported “immediately” through open bidding.

After the heavy withdrawals from warehouses during typhoon Glenda, the government decided to hike its latest importation to 500,000 metric tons from the original plan of 200,000.

“We lost some 50,000MT from the typhoon and local harvest is not expected to start until end of September,” Pangilinan stated via Daily Guardian.

He further stated that the 500,000 MT of additional rice importation would be on top of the earlier importation of 800,000 MT which would be completed on August.

“To make the NFA rice accessible to the consumers, NFA will also sell rice to government agencies,” Pangilinan added via Philippine Star.

The NFA rice prices P32 per kilogram and P27 per kilogram for regular rice.

 

Carlene Madge Morantte

LNU ABcom Intern

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