Gov’t OKs additional 250,000 MT of rice imports

MANILA, Philippines – The National Food Authority (NFA) Council approved on Friday, May 22 an additional rice importation of 250,000 metric tons (MT).

Recommended by the Food Security Committee (FSC), the additional rice importation is in preparation for the lean months starting July and to stabilize rice prices during such period.

The importation of another 250,000 MT is on standby in case production will be significantly affected by El Niño, upon the evaluation and recommendation of the FSC to the NFA Council. The mode of procurement is government-to-government for 25% brokens variety.

The governments of Vietnam, Thailand, and Cambodia will be invited to participate in the government-to-government procurement. These governments have existing Memorandum of Agreements (MOAs) with the Philippine government.

In February, the government approved the first programmed rice importation for 2015, as NFA approved the mandatory buffer stocking requirement of a maximum of 250,000 MT of 25% brokens and 250,000 MT of 15% brokens.

Broken rice is a rice grade consisting of grains broken in the milling process.

FSC, chaired by the National Economic and Development Authority (NEDA), has as members the Department of Trade and Industry (DTI), Department of Finance (DOF), Philippine Atmospheric Geophysical and Astronomic Services Administration (PAGASA), Philippine Statistics Authority (PSA), Bangko Sentral ng Pilipinas (BSP), National Irrigation Administration (NIA), Department of Agriculture (DA), and NFA. – Rappler.com