The Philippines is unlikely to import any additional rice this yeargiven its current abundant supply, according to a source from thecountry’s Ministry of Agriculture.
Deliberations of the FoodSecurity Committee (FSC) have yielded a hesitancy to approve theimportation of the 250,000 tonnes of standby volume as currentstockpiles lean towards a surplus.
The standby supply wasapproved for importation in the event that domestic production sufferedsignificant losses due to the prevailing dry spell.
TheNational Food Authority (NFA) has so far directly imported 750,000tonnes of rice through government-to-government deals since February.
In February, the NFA awarded a 500,000-tonne rice supply contractto 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 anyofficial decision on the importation of the 250,000 tonnes of standbyvolume as the country is awaiting the yield of the next crop.
Meanwhile, NFA Administrator Renan Dalisay said there is no oversupplyof rice, saying the present supply is in accordance with the mandateto maintain a 15-day buffer stocks and 30 days during between-cropmonths. Due to adequate supply, rice prices are stable even during theseperiods, he added.-VNA
Deliberations of the FoodSecurity Committee (FSC) have yielded a hesitancy to approve theimportation of the 250,000 tonnes of standby volume as currentstockpiles lean towards a surplus.
The standby supply wasapproved for importation in the event that domestic production sufferedsignificant losses due to the prevailing dry spell.
TheNational Food Authority (NFA) has so far directly imported 750,000tonnes of rice through government-to-government deals since February.
In February, the NFA awarded a 500,000-tonne rice supply contractto 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 anyofficial decision on the importation of the 250,000 tonnes of standbyvolume as the country is awaiting the yield of the next crop.
Meanwhile, NFA Administrator Renan Dalisay said there is no oversupplyof rice, saying the present supply is in accordance with the mandateto maintain a 15-day buffer stocks and 30 days during between-cropmonths. Due to adequate supply, rice prices are stable even during theseperiods, he added.-VNA
