MANILA, Philippines -- The Philippines, the world's top rice-importing nation, will maintain a program of early buying for requirements next year, but will not publicize when it plans to return to the market, a senior official said Wednesday.

The country has bought 2.3 million tons of rice for this year's requirements, with its last major purchase in July.Manila's purchases this year, meant to stabilize domestic prices and ensure there were enough stocks, was one of the factors that helped push benchmark Thai rice to about $1,100 per ton in April. The price of Thai rice has now come down to $720 per ton.

"In 2008, what saved us was early procurement and early buying," Philippine Agriculture Secretary Arthur Yap told reporters. "But we are not announcing our buying strategy, because that will not work to our benefit."

He added: "Going back to the market is very flexible for us. Nothing is stopping the government from going to the market today, because you can program arrivals. You can buy today and then you can tell them what month to deliver."

Asked whether the government will hold a rice tender in December as it has done in previous years, Yap said: "We will see whether we will be earlier or we will go after that (schedule)."

Yap also declined to say what volume of rice could be bought. "That is going to be determined on the basis of what was planted in the wet crop and what we foresee is going to happen in the dry crop," he said, referring to the wet season beginning in July and the dry season beginning in January.

The government is also waiting for third-quarter paddy rice output figures, due next month, before deciding on its import plans for 2009.

The Southeast Asian nation, which imports about 10 percent of its annual rice requirement, is targeting production of 17.3 million tons of the grain in 2008, higher than the record 16.24 million tons last year.

But rising fertilizer costs prompted the agriculture statistics office to cut its forecast output to 16.94 million tons.

Ample stocks and the expected bumper harvest during the main September-December crop had pushed down domestic prices of paddy rice to as low as P9.00 (19 US cents) per kilogram, against the average P16 during the last harvest in May, a reason farmers may plant less next year.

National Food Authority, the state grain trading agency, earlier said it will double to one million tons the amount of paddy rice it plans to buy from farmers until yearend at P17/kg.

"We're telling them to go out and buy," said Yap, adding the government is planning to further increase the buying target.

"If we can buy two million (tons), we will buy two million."

Reuters