| DJ Philippine 2008 Paddy Rice Output To Rise By 5%-6% - Official |
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MANILA (Dow Jones)--The Philippines' paddy rice output is targeted to rise by 5%-6% to 16.8 million-17 million metric tons in 2008, in line with the country's objective to become self-sufficient in the grain by 2010, the Department of Agriculture said Wednesday.
The target hinges on approval for the department's proposed budget for next year, said Frisco Malabanan, the department's rogram director for rice. The department is seeking a PHP6.5 billion ($151 million) budget allocation for rice in 2008, more than double this year's PHP3.12 billion.
"This will depend on whether we get the budget or not," Malabanan said, adding that production increase in the rice sector depends heavily on reparation of irrigation facilities and provision of subsidies for high-yielding hybrid seeds.
Early this week, the House of Representatives approved the country's proposed budget of PHP1 trillion for 2008. The bill on the proposed budget will be presented to the Senate this week for approval. Malabanan added the department is confident that the country's target to become self-sufficient in rice by 2010 remains achievable despite slower than expected output this year. Paddy rice output this year is projected to total 16 million tons, lower than the department's original production target of 16.2 million tons but 3.8% higher from last year's total output of 15.4 million tons. The Philippines needs to produce around 19 million tons of paddy to be self-sufficient by 2010. The country is a major importer of rice in Asia, buying 1.87 million tons of the grain annually, mostly from Vietnam. |
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