Retailers to be allowed to directly import rice

  • Page Views 858
  • For the first time ever, the government will allow grains retailers to directly import rice, which could effectively reduce the cost of rice to be sold in the local markets.

    This was according to Agriculture Secretary Emmanuel Piñol, who dismissed the possibility that more imports could further dampen the price of locally produced rice.

    “You have to understand that the President has directive to have a 60-day buffer stock. If the imported supply enters the country, let it be. We will not forget about the farmers. We will still buy their produce. We have the budget for it,” Piñol said on Tuesday.

    The suggestion to allow grains retailers to directly import rice was brought up by Piñol during his meeting with the members of the Grains Retailers Confederation (GRECON) the other day.

    The grains retailers were particularly asked to group themselves and directly import rice, which they could sell at a lower price in the market.

    Piñol said there would be no cap as to how much a retailer could import. But since the country is also anticipating the importation of additional 1.1 million metric tons (MT) of rice — which will be conducted separately by National Food Authority (NFA) and retailers that will be accredited by the Department of Trade and Industry (DTI) — the ideal amount that GRECON members can import would be around 50,000 MT to 100,000 MT of rice.

    Right now, the government is determined to procure more “palay” from local farmers, allotting an additional budget of nearly P7 billion to buy more than 2 million bags of palay in the span of two months.

    A latest data from Philippine Statistics Authority (PSA) showed that palay production for July to September 2018 may fall to 3.25 million MT, 2.3 percent below the July 2018 round estimate of 3.32 million MT and 4.2 percent lower than the previous year’s output of 3.39 million MT.

    Harvest area may also decline by 3.4 percent from 852.63 thousand hectares level in 2017, while yield per hectare may fall to 3.94 MT from 3.98 MT.

    “The effect of southwest monsoon or ‘Habagat’ in July, enhanced by typhoons ‘Henry’, ‘Inday’ and ‘Josie’ during the reproductive and maturing stages of the crop may cause the probable drop in palay production in most provinces of Northern Luzon. Bulk of the decrement may come from Nueva Ecija,” PSA said. (M.B. Miraflor, mb.com)

    Share

    New Posts Recently publish post More

    • 20 May 2019
      3 days ago No comment

      Canada comments on recall of Philippine ambassador and consuls over garbage issue

      On May 16, the Philippine government announcement that it has recalled its ambassador and consuls in Canada after Canada missed the May 15 deadline to take back garbage shipped to the Philippines in 2013 and 2014 by an Ontario company. Global Affairs Canada today issued the following statement:   ...

    • 19 May 2019
      4 days ago No comment

      The 3rd annual Canada Day Drumming Celebration Challenges New World Record

      Vancouver, B.C. – With just two months to go until Canada Day, the organizing committee of the Canada Day Drumming Celebration is excited to announce that there will be ten (10) cities across five time zones participating this year. It includes Halifax, Toronto, Montreal, Winnipeg, Regina, Prince George, Kelowna, ...

    • 19 May 2019
      4 days ago No comment

      OFW remittances reach 3-month high in March

      MONEY sent home by overseas Filipino workers (OFWs) rose to a three-month high in March, the Bangko Sentral ng Pilipinas (BSP) reported on Wednesday. Personal remittances — made up of OFWs’ net compensation; personal transfers, whether in cash or kind; and capital transfers between households — reached $2.796 billion ...

    • 19 May 2019
      4 days ago No comment

      Conglomerate still keen on MRT takeover

      Despite delays, Metro Pacific Investment Corp. (MPIC) is still keen on pursuing its P20-billion unsolicited proposal to take over the operation and maintenance of Metro Rail Transit line 3 (MRT-3) , according to its chairman Manuel Pangilinan. But MPIC cannot proceed until an ongoing arbitration case in Singapore is ...

    • 19 May 2019
      4 days ago No comment

      BSP: Banking system sustains growth story

      The Bangko Sentral ng PIlipinas said that, with the banking system at its core, the financial system “remains resilient amid evolving domestic and global environment.” “The Philippine banking system sustained its growth story, maintained its solid footing as evidenced by its satisfactory asset quality, ample liquidity and solvency, profitable ...

    %d bloggers like this: