Philippines traders apply to import 300 000 tonnes of rice

28/07/2015,

Private traders have applied to import 300 000 tonnes of Rice from Thailand and Vietnam following the National Food Authority (NFA) approval of imports up to 805 200 tonnes of rice (25% well-milled) by private traders. Traders have until July 30 to apply to import rice at a 35 percent tariff, but considering the pace and trend of import applications so far, it is likely the entire volume will be imported before the end of November deadline. Nevertheless, imports will help to boost the country’s rice stocks, particularly in view of uncertain prospects for the current 2015 main season rice crop, due to below-average rains associated with El Niño phenomenon.

Country: Philippines