A United Nations’ market monitor showed that despite the tightening of the global rice market, conditions for growing the staple in the country remained favorable.
According to the Agricultural Market Information System (Amis), rice production dropped mainly in Bangladesh, India, Nepal and Vietnam, but conditions remained beneficial for rice in India, Indonesia and the Philippines.
It noted that wet season rice planted in the country from July to August are now in the tillering stage, while wet season rice which were planted earlier had already been harvested.
Latest data from the Philippine Statistics Authority showed that crops remained the biggest contributor to the country’s total agricultural production. It grew by 11.72 percent year-on-year in the first semester.
With these are good indications, the National Food Authority said it was expecting to reach its target to buy almost 4.7 million bags of rice from farmers as harvest season begins.