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Philippines may halve rice imports in 2011
23.07.2010 12:29 "Agro Perspectiva" (Kyiv) —
The country may cut its rice imports by as much as 50% next year as the world’s largest rice buyer lifts local production to attain self-sufficiency in the grain by 2013, the agriculture minister said.
Manila has said its rice purchases next year would be less than the record 2.45 million tons it bought for 2010 as the government sought to build its buffer stocks after typhoon damage last year and then a drought hit local crop output.
«We are still finishing our discussion on 2011 (rice imports), but it will surely be lesser than what we have imported for 2010,» Proceso Alcala, agriculture secretary, told reporters.
«We will check if we can do 50% (reduction),» Alcala said. «That’s no problem as long as we can support this technically.»
Alcala said the agency would have a better idea of the 2011 import requirement by next week. The new government of Benigno Aquino III, which took office on June 30, has said it would boost local rice output to stop imports in three years.
The prospect of lower rice purchases by Manila could add to a downtrend in Asian rice prices. The benchmark 100 percent B grade Thai white rice dropped to $440 per ton this week from last week’s $450.
The Philippines, which imports around a tenth of its annual rice needs, had set a rice production goal of a record 17.4 million tons this year, up 7% from 2009.
But the Bureau of Agricultural Statistics said in May it expected unmilled rice output to fall in the second and third quarters from a year earlier. Production fell 11.4 percent to 3.49 million tons in the first quarter from a year earlier.
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