RP scraps monopoly on rice imports<\/p>\n
Philippine President Gloria Macapagal Arroyo said on Friday
\nrice imports would finally be thrown open and a state monopoly on
\nbuying the staple dismantled in the next few months.<\/p>\n
She said this year's import requirements of 390,000 tons would
\nbe brought in by farmers and other private firms and that state
\ntrading firm National Food Authority (NFA) will now focus
\nattention on building up buffer stock from local rice harvests.<\/p>\n
Arroyo vowed last year to dismantle the monopoly of NFA, the
\nonly firm allowed to directly import rice since 1983, to put a
\nstop to smuggling.<\/p>\n
\"NFA will not do any importation (this year). NFA will use its
\nbudget to buy palay (unmilled rice) from the farmers,\" Arroyo
\nsaid at a news conference.<\/p>\n
The Philippines, one of Asia's largest rice importers, bought
\n780,000 tons of the grain last year.<\/p>\n
Arroyo said rice imports will be lower this year as the
\ndomestic unmilled rice harvest in 2002 was estimated to hit a
\nrecord 13.3 million tons from last year's 12.95 million with the
\ndistribution of higher-yielding seeds to farmers.<\/p>\n
Out of the 390,000 tons which the country would import this
\nyear, some 195,000 tons would be bought by farmers, she said.<\/p>\n
State-owned Land Bank of the Philippines has said it was ready
\nto extend loans of about 2.9 billion pesos ($56.5 million) to
\nfarmers to enable them to import rice.<\/p>\n
Arroyo said importation of the remaining 195,000 tons would
\nbe totally liberalized. Under this plan, each importer can bring
\nin no more than 10,000 tons, she said.-Reuters.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-scraps-monopoly-on-rice-imports-1447893297",
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