NFA Council ends fancy rice import scheme
Agriculture Secretary Emmanuel Piñol said the importation of fancy rice, which includes the Jasmine variety from Thailand sold in the market for as much as P60 per kilo, has been stopped by the National Food Authority Council (NFAC).
“Acting on a recommendation which I submitted during last week’s meeting, the NFA Council has approved a resolution setting as policy that only 25 percent Broken Rice classification will be imported by both government and private traders,” Piñol said.
Imported rice has three classifications, namely 25 percent broken, 15 percent broken and 5 percent broken or the Premium or Fancy Rice.
Piñol said many unscrupulous importers declare their imports as 25 percent to enjoy lower tariff valuations while actually bringing in fancy and premium Rice sold at very high prices.
This is the reason, according to him, why in spite of the Importation of about 800,000 metric tons of rice by the private traders, the price of rice in the market has not gone down.
“Any Imported Fancy Rice sold in the market after the effectivity of this new policy would be considered smuggled rice and subject to seizure and confiscation,” Piñol said.