“We don’t have any problem in rice supply. There is no looming rice crisis,” NFA Administrator Lito Banayo said in an interview over Radyo Inquirer.
Banayo was reacting to a report by the National Intelligence Coordinating Agency (NICA) warning about a possible rice shortage and price increases amid the volatile global cereal market and uncertain weather.
He said was not disputing the NICA report which was dated February 20, but added that the government has since taken measures to address such a situation if ever it arises.
According to Banayo, there is no need to worry about rice shortage for there were government interventions to make sure that the country has enough rice supply.
“Walang dapat ipangamba. (No need to worry.) The government has moved in the right direction,” he said.
Banayo also said he had already signed a contract with Vietnam in March importing an additional 200,000 MT of rice to boost buffer stocks for a bargain price of $480 per MT compared to last year’s price of $630 per MT.
Banayo said NFA had also given permits to the private sector to import an additional 660,000 MT of rice.
But he explained that the rice importation has decreased compared to the 2.4 million MT imported in 2010.
For the full audio report, listen to DZIQ 990 AM. Danica Marie Hermogenes