‘No rice shortage!’ Piñol says
Agriculture Secretary Emmanuel Piñol pointed out that contrary to news reports, there is no rice shortage in the country, saying that “scare tactics will not stand a chance against statistics”.
“Contrary to reports that there is a looming rice shortage because the National Food Authority (NFA) has not brought in imported rice, there is actually a huge inventory of locally harvested rice,” Piñol said.
The Department of Agriculture’s Field Operations head Undersecretary Ariel Cayanan said the estimated buffer stocks by the end of the First Quarter of 2018 is placed at 3 million metric tons (MT), which would be enough to supply the daily consumption of 31,450 MT per day for 96 days.
“The 96-day buffer stock is one of the biggest rice inventories of the country in recent years and this was the result of a bumper harvest of 19.4 million MT for 2017, a record harvest for the country,” Piñol added.
By the end of 2017, rice stocks in warehouses and home storage were placed at 2.7 million MT which would be good for 88 days of supply.