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imports – NFA
BY EIREENE JAIREE GOMEZ – THE MANILA TIMES
MARCH 12, 2019
Latest data from the NFA showed a total of 203,000 metric tons (MT)
of 25-percent broken long grain white rice from Thailand and Vietnam
have arrived under government-to-government (G to G) tenders.
The imports, which are part of the 1.25 million MT ordered last year,
were discharged in the ports of Manila, Subic, Cebu, Cagayan de Oro,
Davao, General Santos City, La Union, Surigao, Tacloban and
Zamboanga.
The country has imported rice from Thailand and Vietnam since these
are the only ones with existing memorandums of agreement with the
Philippines. The rice imports are meant to increase the NFA’s market
participation and beef up its own inventory.
NFA acting administrator Tomas Escarez said more farmers were now
selling their harvests to the NFA after its policy-making body NFA
Council approved an additional P3 per kilogram buffer stocking
incentive (BSI) in October last year.
The NFA releases rice at P25 per kilo to accredited retailers who sell
at P27 per kilo to consumers across the country.
The NFA currently maintains more than 300 warehouses across the
country with total capacity of 22 million bags or about 30 days of
national daily consumption requirement.
https://www.manilatimes.net/buffer-stock-boosted-by-rice-imports-nfa/524174/