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The Philippines most probably will not import rice

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Staff writer ▼ | February 4, 2016
The National Food Authority (NFA) Council of the Phillipines decided that the country may not need to import rice for the first quarter of this year.
Phillipines rice
Food for people   The National Food Authority Council:
The decision took into consideration the projected effects of El Niño. NFA rice stock inventory currently stands at 944,500 MT, good for 29 days to last. It is 80 percent higher compared to stocks during the same period last year.

NFA is mandated to maintain rice stock inventory that is good for 30 days at the start of the lean month season, particularly in the month of July. Daily national rice consumption rate is at 31,000 MT.

The entire rice industry inventory, including household and commercial stocks, is also sufficient and good for 110 days to last.

Total rice importation contracted for this year is conservative at 500,000 MT thru a government-to-government procurement with Vietnam and Thailand. It was contracted last year, with arrivals scheduled this year, to get the lowest possible price.