PH to cut rice imports by half next year
National Food Authority (NFA) said the country may reduce its rice import targets by half in the first quarter of next year on the back of higher grains production.
Rocky Valdez, director of Grains Market and Operations Division of NFA, said they are looking at 250,000 metric tons (MT) of rice imports within the first half of 2018, which is lower than the previous target of 580,000 MT.
“We still have to see the final production figures for the dry season harvests. But this early, the DA is already projecting second half production at 12.9 million tons rice equivalent,” Valdez said.
“We have actually set targets of small, medium, and high… that is equivalent to 250,000 MT, 580,000 MT, and 1 million MT,” he added.
But as of now, Valdez also noted that there’s no urgent need to import rice this year.