According to the recent information it has been indicated that the government of Philippines has decided to hold an emergency meeting in this week to discuss about additional rice imports for this year after the Typhoon Koppu left many paddy fields damaged. Further, the National Food Authority (NFA) Council is scheduled to meet on October 29th to review the country’s rice supplies and the need for one million tons rice imports for next year. However, the NFA Council has decided to advance the meeting to this week as crop losses from the Typhoon are likely to be high.
Furthermore, according to the NFA Administrator the matter will be discussed immediately if the stocks are prepared for El Nino and an additional volume that has yet to arrive would be sufficient until December. It has also been revealed that typhoon has destroyed about 400,000 tons of paddy rice, almost 5% of the estimated output of around 7.95 million tons (basis milled) in the last quarter. In this regard, the government has already approved for importing about 1.8 million tons of rice for delivery this year.