Industry News

Philippines to import one million tons of rice next year

The National Food Authority (NFA) Council head and Department of Agriculture Secretary Emmanuel Piñol announced that it will be importing one million tons of rice for the year 2019.

This year, an additional of 750,000 tons of rice will be imported to keep the prices of commercial rice in the market at bay. Secretary Piñol also warned hoarders to release their stocks before the imported rice arrives. It is reported by the Philippine Statistics Authority that prices of well-milled rice is at P48.40 per kilo on the second week of September, 15.7 percent higher than 2017. On the other hand, regular milled rice is at P42.27 per kilo, 20.3 percent higher than last year.

According to Secretary Piñol, the rice shortage in Zamboanga, Sulu, Basilan, and Tawi-Tawi is because of the provinces’ dependence on smuggled rice. But after Malaysia and the Philippines implemented stricter rules, smuggling was stopped.

Read the whole article here: