Friday 17 August
Powered by Ajaxy
Dec 21, 2017 @ 16:27

USDA sees PH improving rice production for next year

US Department of Agriculture (USDA) said the Philippines’ rice production next year may increase due to favorable weather conditions and the use of other rice varieties.

“For rice, production in market year (MY) 2017 and 2018 was raised 770,000 tons to 11.97 million tons as area harvested increased consistent with PSA [Philippine Statistics Authority] data. Increased output is expected as a result of favorable weather conditions and increased use of high-yielding varieties,” USDA said in its latest Global Agricultural Information Network (GAIN) report.

The report said that there were noticeably fewer intense typhoons that passed through major rice production areas compared to previous years.

“Additionally, a substantial shift away from rice to corn is not expected due to delays in the tariffication of rice (which requires a legislative amendment to the Agriculture Tariffication Act),” GAIN further said.

Imports were pared down 400,000 tons to 1.3 million tons in MY 17/18 as a result, and ending stocks were raised.

The Philippines QR for rice imports that was granted by the World Trade Organization expired on June 30, 2017.

However, the Philippine Government unilaterally extended the Minimum Access Volume (MAV) commitments of 805,200 MT and corresponding tariff concessions to maintain special treatment through Executive Order No. 23 (EO 23).

The MAV and tariff concessions will remain in place until December 31, 2020 or until an amendment to the Agricultural Tariffication Act is passed.

The legislative amendment required to move to a tariff-based system and end the QR has not been passed. A bill to this effect is being developed by Congress, the timeline of which is unknown, GAIN further said.

Although delayed, imports under the rice MAV are expected to come in through MY 17/18.


Trending News

Recommended on sister sites

Copyright © 2018 - Latest News on Celebrities, Politikos and Businessmen that loves food!.