PH imports 1M tons of rice
To ensure adequate rice supply for the rest of the year, the country will be importing rice.
Rappler reported that Philippine Economic Planning Secretary Ernesto Pernia said last week that the government plans to import one million tons of rice on the latter part of the year.
This would boost the total amount of imports for the year to almost two million tons, given about 900,000 tons of rice already on shore. Rappler said in addition to the amount brought in by smugglers, and the figure easily surpasses the psychological level of two million tons of rice.
The import plan, the report said, is an implicit admission to what those in the rice and grain trade have identified for a long time – the country is facing a shortage of rice for its 105 million people.
Pernia said Manila wants to gain from the dip in prices to get supplies of the rice into the country.
The rice output of the country, in reality, is down for 2016 and given next weather conditions, it would only rise second half of 2016.However, recent monsoon rains have greatly affected the production of rice in the country, and may hit rice farms during the last quarter of the year.