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RP may import 3 million MT of rice in 2010


If climate change will continue to affect the country’s agriculture production, Manila may import as much as 3 million metric tons of rice next year. “That’s the worst case scenario. We are not sure what calamities might hit again next year or if summer harvest will be as bountiful as what the government expects it to be," said Rex Estoperez, National Food Authority public affairs manager and spokesperson, during a prebidding conference on Monday. He also confirmed that the standby volume for rice imports is at 2.22 million metric tons (MT) to 2.4 million MT, but added that the there maybe “some adjustments" if needed. The government has also announced a fourth tender of another 600,000 MT rice for December 15, bringing to 2.05 million MT the total volume of rice offered in four separate tenders this yearend. Rice imports may be sourced from Vietnam, Thailand and China for a maximum of 600,000 MT each and to India , Australia , Pakistan and the US for a maximum of 100,000 MT each. Arrival date has been set anytime from February until May 2010. Estoperez said the move to announce the Philippines’ intention to import rice was made at this time when prices were still “attractively affordable" and competitors had yet to start buying. “Because when they (competitors) start to buy, prices will jack up," he said. Succeeding tenders may be held in the first three months of the year, Estoperez said. He noted that 2 million tons is sufficient to supply the country’s consumption in the first quarter. “(W)e still have an inventory of 1.2 million tons in government warehouses that could last up to 32 days," he said. - GMANews.TV

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