NFA rushing to finish guidelines on rice importation

The National Food Authority is now  working double time to finish the final draft of rice imporation guidelines before it receives tenders from importers next month.   "Essentially, the guidelines will be the same as in previous years. We will still bid out the service fee, so the importation for 2012 is a money-making venture for the government," said Gilbert Lauengco of the NFA Bids and Awards Committee.   The NFA council and the Fiscal Incentives Review Board (FIRB) of the Finance Department will have to approve the final draft of the guidelines.   The private sector is authorized to buy 500,000 metric tons of rice from foreign traders to make up for the expected slack in Philippine production.   "The NFA council has decided to (initially) import 500,000 MT of milled rice. Of this volume, 250,000 MT were allocated to traders while the rest will be brought in by farmers' groups," said Agriculture Secretary Proceso Alcala.   Government will review the production numbers late in the first quarter of 2012 to see if the 500,000 MT will suffice to meet next year’s national requirement for the staple, said Alcala.   This year, the Philippines imported 860,000 MT rice. — VS, GMA News