ASEAN+3 to hike E. Asia emergency rice reserves<\/p>\n
Dow Jones, Manila<\/p>\n
The Association of South East Asian Nations plus China, Japan and
\nSouth Korea, or ASEAN+3, is expected approve an expansion of the
\nEast Asia Emergency Rice Reserve (EAERR) to at least 200,000
\nmetric tons beginning next year from 87,000 metric tons, regional
\nofficials said on Tuesday.<\/p>\n
Japan alone has already committed to earmark 250,000 tons to
\nthe EAERR, which exceeds the targeted increase, Philippine
\nNational Food Authority administrator Gregorio Tan told a news
\nconference.<\/p>\n
Some ASEAN members have committed a total of 50,000 tons to
\nbuild the EAERR. China, the world's largest producer of rice, is
\nyet to set its contribution volume to the EAERR.<\/p>\n
However, Tan said the 10 members of ASEAN could easily commit
\nup to 87,000 tons since member-countries have committed that
\nvolume to the ASEAN Emergency Rice Reserve.<\/p>\n
On Tuesday, ASEAN+3 began its two-day fifth Project Steering
\nCommittee Meeting, where the group is expected to approve the
\nexpansion of the rice reserve allocation.<\/p>\n
Project Chairman Pinit Korsieporn, deputy secretary general of
\nThailand's Office of Agricultural Economics, said member
\ncountries of ASEAN+3 are expected to formalize their commitment
\nto contribute to the EAERR.<\/p>\n
While the ASEAN Emergency Rice Reserve is covered by a written
\nagreement among ASEAN member countries, the creation of the EAERR
\nhas yet to be formalized by a formal arrangement, he added.<\/p>\n
The Philippines and Indonesia have committed to earmark 12,000
\ntons each, Thailand, 15,000 tons, Malaysia, 6,000 tons and
\nSingapore, 5,000 tons for the EAERR.<\/p>\n
According to Tan, the Philippines has also committed to host
\nan initial stockpile of 25,000 tons for the EAERR.<\/p>\n
The rice reserves are intended to ensure food security and
\nreduce poverty by providing food assistance to disaster areas in
\nthe region.<\/p>",
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"sponsor": "Okusi Associates",
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