Philippines to import rice to beef up stock

15:33 | 21/01/2014 Global Economy

The Philippines is expected to import more rice in 2014 than previously estimated as the government moves to raise its stocks, according to the “Philippine Daily Inquirer” newspaper.

The trend has been outlined though statistics from the Bureau of Agriculture Statistics show that domestic output of palay rice in 2013 reached a new record of 18.44 million tonnes, up 2.3 percent from 2012.

The newspaper said the US Department of Agriculture has raised its projection on the Philippines ’ importation to 1.4 million tonnes this year.

The National Food Authority has explained that the purchase is needed because of the release of supplies for relief efforts following destructive typhoons as well as man-made crises, the daily reports./.

Source Vietnam Plus

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