Quantcast
Article Index |Advertise | Mobile | RSS | Wireless | Newsletter | Archive | Corrections | Syndication | Contact us | About Us| Services
 
  Breaking News :    
Advertisement
Robinsons Land Corp.
Sta Lucia Realty

INQUIRER ALERT
Get the free INQUIRER newsletter
Enter your email address:

 
Breaking News / Nation Type Size: (+) (-)
You are here: Home > News > Breaking News > Nation

  ARTICLE SERVICES      
     Reprint this article     Print this article  
    Send as an e-mail     Send Feedback  
    Post a comment   Share  

  RELATED STORIES  




imns



Philippines to be more ‘aggressive’ in rice importation


Associated Press
First Posted 13:11:00 05/07/2008

Filed Under: rice problem, Weather

MANILA, Philippines -- The Philippines will continue to buy rice on the international market to build local inventories in preparation for possible weather calamities during the typhoon season, the agriculture chief said Wednesday.

The world's top rice importer has so far contracted 1.7 million tons of the staple to fill a 10-percent domestic production gap despite tight global supplies and record high prices.

"We will continue to be aggressive," Agriculture Secretary Arthur Yap said. "Our policy has been to go on an active procurement, active engagement of suppliers."

He said the state-run grain importer, the National Food Authority, still needs to import around 675,000 tons of rice as buffer stocks for the last quarter of the year.

The onset of the rainy season in May and June is expected to usher in destructive typhoons that frequently ravage rice paddies and diminish local supplies. About 20 typhoons hit the archipelago every year.

A Monday auction for 675,000 tons of rice failed because only one bidder, from Vietnam, submitted an offer.

The government decided not to set a date for another public tender. Yap said Tuesday that Asian exporters Thailand and Vietnam have expressed concern that the Philippines' aggressive buying was driving up prices.

He said other options included government-to-government deals.

Rice prices have tripled this year, with the regional benchmark hitting US$1,000 a ton for 100 percent Grade B white rice.



Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



Share

RELATED STORIES:

OTHER STORIES:



  ^ Back to top

© Copyright 2001-2009 INQUIRER.net, An INQUIRER Company

The INQUIRER Network: HOME | NEWS | SPORTS | SHOWBIZ & STYLE | TECHNOLOGY | BUSINESS | OPINION | GLOBAL NATION | Site Map
Services: Advertise | Buy Content | Wireless | Newsletter | Low Graphics | Search / Archive | Article Index | Contact us
The INQUIRER Company: About the Inquirer | User Agreement | Link Policy | Privacy Policy

Advertisement
Megaworld
Filinvest
Property Guide
Xoom
Inquirer VDO