Gov’t prepares to import 500,000 MT of rice

MANILA, Philippines - The National Food Authority (NFA) Council has fixed the volume for a fresh round of rice importation this year at 500,000 metric tons (MT).

Francis Pangilinan, presidential assistant for food security and agriculture modernization, said yesterday that the entire volume would be imported “immediately” through open bidding.

The fresh round of rice importation is in consideration of the prevailing lean season and the damage inflicted by Typhoon Glenda on major rice cultivation areas.

Pangilinan said the 500,000 MT of additional rice importation would be on top of the earlier importation of 800,000 MT, shipment of which would be completed by August.

This was approved by the NFA Council during a strategic planning session last Tuesday.

The council, chaired by Pangilinan, was convened to lay down policy reforms in the state-run grains procurement agency.

Present during the council meeting were newly installed NFA administrator Arthur Juan, National Economic and Development Authority (NEDA) director general Arsenio Balisacan, Finance Secretary Cesar Purisima and Trade Secretary Gregory Domingo.

Also present were Development Bank of the Philippines director Reynaldo Geronimo, Land Bank president Gilda Pico, Bangko Sentral ng Pilipinas (BSP) deputy governor Diwa Guinigundo and Edwin Paraluman from the farmer’s sector.

Pangilinan said the council also approved the creation of minimum access board composed of representatives from the Department of Trade and Industry, NEDA and BSP.

Pangilinan said the council also approved the increase in the daily release from the buffer stock to 10,000 MT from 6,000 MT to cushion the effects of increase in the price of rice.

“To make the NFA rice accessible to the consumers, NFA will also sell rice to government agencies,” he added.

The NFA sells well-milled rice at P32 per kilogram and regular rice at P27 per kilogram.