PH importing 500,000 of rice in March-April | Inquirer Business

PH importing 500,000 of rice in March-April

/ 06:44 AM February 18, 2015

MANILA, Philippines–The National Food Authority announced Tuesday plans to import a total of 500,000 tons of milled rice, intended to augment locally grown stock in the lean season that starts in July.

According to the NFA Council, it will call for tenders for up to 250,000 tons at 25 percent broken, and up to 250, 000 tons 15-percent broken—both of well-milled, long grain white rice.

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The transaction will be made government-to-government. Based on agreements entered into by the Philippines in relation to rice supplies, the possible suppliers are Thailand, Vietnam and Cambodia.

Each supplier should offer at least 50,000 for each variety.

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The NFA said half of the volume awarded must be delivered not later than March 31, and  the remainder should be in by April 30.

According to the Philippine Statistics Authority (PSA), the NFA’s inventory as of Jan. 1, 2015 was 520,000 tons—of which 97 percent is imported.

The NFA started the year with a rice inventory good for 15 days of consumption, meeting its mandated minimum supply.

According to the Food and Agriculture Organization, the Philippines is expected to again import 1.8 million tons of milled rice this year amid projections that growth in domestic production will be insignificant if not nil.

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TAGS: grains, National Food Authority, NFA, Philippines, rice, rice imports
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