NFA might move rice imports bidding to March
The National Food Authority (NFA) on Tuesday is poised to move to March the bidding of 500,000 metric tons of imported rice while it awaits Finance department approval.
“The approval is still with the Fiscal Incentives Review Board. There is a possibility that the bidding may be pushed back to March but we will do everything possible to hold it before the end of the month,” Gilbert Lauengco, NFA legal counsel, said in an interview.
Rice importation for this year has been capped at 500,000 metric tons (MT) as the Agriculture Department expects an increase in local rice output to 18.42 million MT of unmilled rice.
Earlier, Lauengco noted that imported rice bidding shall commence within February, however it was ‘delayed’ as simpler procedures and monetary incentives were still being studied.
The Agriculture Department is aiming for “rice self-sufficiency” by 2013 downsizing its imports to only 100,000 MT. — RD/ELR, GMA News
“The approval is still with the Fiscal Incentives Review Board. There is a possibility that the bidding may be pushed back to March but we will do everything possible to hold it before the end of the month,” Gilbert Lauengco, NFA legal counsel, said in an interview.
Rice importation for this year has been capped at 500,000 metric tons (MT) as the Agriculture Department expects an increase in local rice output to 18.42 million MT of unmilled rice.
Earlier, Lauengco noted that imported rice bidding shall commence within February, however it was ‘delayed’ as simpler procedures and monetary incentives were still being studied.
The Agriculture Department is aiming for “rice self-sufficiency” by 2013 downsizing its imports to only 100,000 MT. — RD/ELR, GMA News
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