RP to import more rice

RP to import more rice

MANILA (UPI): The Philippines may import more rice if an expected delivery of 220,000 metric tons of the crop from Vietnam, Thailand, China and India fail to fill a foreseen shortage in the coming months.

"I have given the stand-by authority to the Department of Agriculture to import 500,000 metric tons (of rice) just in case," President Fidel Ramos said in an interview.

The Agriculture Department earlier announced it would import 220,000 metric tons of rice to prevent a shortage in supply and the spiraling of prices.

Agriculture officials said Ramos' directive allows them to import another 280,000 metric tons of rice within the year. But they would "have to wait and see" if there would be a need to augment imports.

The National Food Authority, the government agency that monitors prices of basic commodities, said an initial batch of 40,000 metric tons of rice will be shipped from China later this month. Some 130,000 metric tons of rice is expected from Thailand and Vietnam.

NFA Deputy Administrator Gregorio Tan said the remaining 50,000 metric tons of rice will most likely come from India. Tan said Manila would purchase the rice at a range of US$285 to $320 per metric ton.