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The National Food Authority has postponed the rice import open auction. Meanwhile, 200 thousand ton

Philippine News

06/25/2018 | 投稿者:CEBUnaviSAKURA editorial staff

The public auction of 805,200 tons of imported rice was scheduled for June and has now been postponed by the judgement of the National Food Authority (NFA). Because of this, the domestic price of rice is expected to rise. Despite the fact the Philippines is the eighth largest producer of rice in the world, with 15 million tons of rice production a year, the distribution of rice cannot catch up to demand due to a fast-growing population, environmental pollution, and a decreasing number of rice farmers so, a large volume of rice needs to be imported. The NFA has decided to postpone the auction because they need more time to assess applications for rice importation. The new schedule has not been announced yet, but the next arrival of imported rice is scheduled to be in July or August. On the contrary, it was decided to import up to 200,000 tons of sugar as a countermeasure for the sharp rise in prices due to shortages in the country. The sugar retail price in the metropolitan area has increased by 13% since the beginning of the year. As of June, it’s the highest level thus far in five years. Both rice and sugar are highly consumed products among Filipinos. It could be said that this change in the balance of production and importation shows a significant change in the Philippines itself.

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