NFA assures substantial rice supply in the region

By Leny G. Gabo

The National Food Authority (NFA)-6 assures substantial supply of rice in the region to last even until the lean months.

NFA Regional Director, Javier Lozada told The News Today that Western Visayas farmers had a good harvest during the second cropping reason why there is enough supply of rice.

Lozada said the NFA could even fill up the needs of those areas in the region that is not rice producing when lean months draw closer.

Lozada observed that the price of rice in the market remains to be stable.

Lozada said they are monitoring the price situation in the market to ensure that rice dealers would not make unnecessary increases in their prices.

“As of the present time there is no need to worry about the supply of rice in the region. There is substantial supply,” he reiterated.  

Lozada noted that the government is currently facilitating the procurement of additional rice supply from Vietnam .

The National Food Authority (NFA) intends to buy 80,000 metric tons (MT) more of rice from the five Vietnamese firms which won a January 6 bidding for 320,000 MT of the commodity.

State-owned Vietnam Southern Foods Corp. won the right to supply 246,000 MT of 25% broken rice, the largest volume, at $281.98 per MT with at least 50% deliverable not later than February 28. The shipment balance should be in the Philippines by April 15.

The other winners were An Giang Agriculture Foods Import Export Co., (20,500 MT); An Giang Import Export Co. (20,500 MT); An Giang Tourimex Co. (20,500 MT) and Dong Thap Commerce Export-Import (12,500 MT) all of which offered prices and delivery conditions identical to that of Vietnam Southern Foods.

The NFA wants to import the country's rice import requirements early in the year as ongoing droughts in Thailand and Vietnam could further boost world market prices. Expectations that China will start importing rice before the first quarter ends are also putting pressure on global prices.

Thailand and Vietnam are the two largest suppliers of rice in the world. Philippine rice imports are normally sourced from Vietnam and Thailand .