| Philippines 2010 rice imports may reach 3 mln T |
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MANILA, Nov 23 (Reuters) - The Philippines, the world's biggest rice buyer, could import as much as 3 million tonnes of the grain next year after local crops were damaged by typhoons, a government official said on Monday.
"That's the worst case scenario, you'll never know if harvests may be damaged again and there's also El Nino," National Food Authority (NFA) spokesman Rex Estoperez told reporters when asked if
He was speaking a day after It has already held one tender for 250,000 tonnes and now plans three 600,000 tonne purchases in December, all for delivery in 2010. [ID:nMAN481373] Estoperez said the state grain agency NFA's Dec. 15 tender for 600,000 tonnes of rice would be its last this year and any further purchases would likely happen in the first quarter. Total imports scheduled so far for 2010 exceed the 1.775 million tonnes the country imported for 2009 and are near the record 2.3 million tonnes it bought for 2008, which helped send grain prices to all-time highs.
The The country's paddy rice output is forecast to drop 2.4 percent to 16.42 million tonnes in 2009, the first time fall in full-year production since a massive drought hit crops in 1998. [ID:nMAN426276]
Officials have said they want to clinch purchases before rice prices rise further, especially since Benchmark Thai rice prices <RI-THWHB-P1> currently stand at $565 a tonne free on board, well short of the values above $1,000 hit in early 2008 when worries about food security caused panic buying of the grain.
Main rice exporters
The proposal is currently being studied by the Philippine government, Ludovico Jarina, NFA deputy administrator, told reporters.
"I think that is good for the
Monday, 23 November 2009 11:25:48RTRS [nSP58180 ] {C}ENDS |
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