philippines urges traders to increase rice imports for stable supply
Published on: December 1, 2023.
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The Philippines, known as one of the world’s largest rice importers, has set a deadline of one month for private traders to purchase an additional one million tons of rice. This move is aimed at increasing local supply and preventing a rise in the cost of rice.
Agriculture Secretary Francisco Tiu Laurel made the announcement during a congressional hearing, where he also reassured lawmakers that measures were being taken to ensure a stable supply of other food items like sugar and onions. Laurel’s office released a statement regarding these developments.
During the hearing, Laurel emphasized that if the private traders fail to meet the import deadline, their permits will be cancelled. This decision was made to prevent any delays or complications caused by permits that were issued to the traders upon their request.
In the Philippines, rice imports are primarily handled by private traders. However, in emergencies, the government agency responsible for procuring rice from local farmers for buffer stocking can also import a certain volume with approval from the president.
By setting this deadline and urging private traders to import additional rice, the government aims to strengthen the local supply and ensure that the cost of this important staple food remains stable for the general public. It reflects the government’s commitment to prioritize the availability and affordability of rice, which is a vital part of the Filipino diet.
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