The Philippines has planned a Govt. to Govt. deal of near about 80, 0000 tons of rice, it will be undertaken before the end of March, farm minister asserted.
Vietnam and Thai may most likely compete in this tender bidding, agriculture Secretary Proceso J. Alcala told. NFA National food authority was expected to hold the tender on Monday but till now there are no final steps visible in this case. Mr. Alcala told that only the required quantity will be imported. It is expected that NFA will import rice grain from Vietnam,Cambodia or Thailand and the above said quantity is enough. Nfa wants to surge its buffer stock which was below the requirement in February before the downfall of cropping season which is from July to September and minimum 30 days national consumption stock is required. NFA wants to curb the key effects of inflation by doubling the amount of releasing the paddy stock into market. In local market it is showing the affect and prices are fallen gradually.
Last year typhoons and natural calamities have affected a lot to the self reliance of country. As a result 500,000 import rice was done from Vietnam and India. The stock fell by 5.7% and became 2.12 million tons at the beginning of the year. Stocks in business warehouses fell down by 15.6% and affected a lot to the supply to customers. Now 4 percent price rise has been seen from November to February. Smugglers of the paddy want to avoid the Govt. tariff of 40 percent and Govt. stockpile fell down badly, but now is under control.