PHL may import up to 200,000 MT rice as buffer stock

The Philippines may import anywhere from 150,000 metric tons (MT) to 200,000 MT of rice this year as buffer stock for the lean months, Agriculture Secretary Proceso J. Alcala said Monday. The estimate is less than half the 500,000 MT imported in 2012, as the "lean season" has become shorter due to early cropping, Alcala explained. With the early cropping, the bulk of palay production occurs early in the year during the dry season, months before the traditional lean season of June to August. Thanks to this, "we may no longer need to import that much this year," Alcala said on the sidelines of a meeting on the Philippine Rural Development Program (PRDP). However, Alcala added that the National Food Authority has yet to determine the final volume of rice to be imported in 2013. The country has gradually reduced its rice importations over the years in its aim to achieve self-sufficiency in rice. Last week, the NFA announced that it has allotted P10.9 billion to buy 615,985 MT of palay from local farmers this year. The country is aiming to produce 20.4 million MT of rice this year. — BM, GMA News