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.