The Philippines is unlikely to import any additional rice this year given its current abundant supply, according to a source from the country’s Ministry of Agriculture.
Deliberations of the Food Security Committee (FSC) have yielded a hesitancy to approve the importation of the 250,000 tonnes of standby volume as current stockpiles lean towards a surplus.
The standby supply was approved for importation in the event that domestic production suffered significant losses due to the prevailing dry spell.
The National Food Authority (NFA) has so far directly imported 750,000 tonnes of rice through government-to-government deals since February.
In February, the NFA awarded a 500,000-tonne rice supply contract to Vietnam and Thailand , which were delivered in March and April.
The agency also approved the importation of 250,000 tonnes for arrival between July and August.
FSC Chairman Francis Pangilinan said the committee has not issued any official decision on the importation of the 250,000 tonnes of standby volume as the country is awaiting the yield of the next crop.
Meanwhile, NFA Administrator Renan Dalisay said there is no oversupply of rice, saying the present supply is in accordance with the mandate to maintain a 15-day buffer stocks and 30 days during between-crop months. Due to adequate supply, rice prices are stable even during these periods, he added.-VNA
Deliberations of the Food Security Committee (FSC) have yielded a hesitancy to approve the importation of the 250,000 tonnes of standby volume as current stockpiles lean towards a surplus.
The standby supply was approved for importation in the event that domestic production suffered significant losses due to the prevailing dry spell.
The National Food Authority (NFA) has so far directly imported 750,000 tonnes of rice through government-to-government deals since February.
In February, the NFA awarded a 500,000-tonne rice supply contract to Vietnam and Thailand , which were delivered in March and April.
The agency also approved the importation of 250,000 tonnes for arrival between July and August.
FSC Chairman Francis Pangilinan said the committee has not issued any official decision on the importation of the 250,000 tonnes of standby volume as the country is awaiting the yield of the next crop.
Meanwhile, NFA Administrator Renan Dalisay said there is no oversupply of rice, saying the present supply is in accordance with the mandate to maintain a 15-day buffer stocks and 30 days during between-crop months. Due to adequate supply, rice prices are stable even during these periods, he added.-VNA
