As rice imports continue to be fine-tuned to stabilize supply without majorly affecting farmgate prices.
In a meeting with rice millers and importers last Friday, January 16, Agriculture Secretary Francisco Tiu Laurel Jr. was given updates on current market conditions and inventory movements in the rice industry.
During which, it was told that stocks are tight as the industry transitions toward the incoming harvest season with activities in several areas in Northern and Central Luzon dependent on newly harvested palay.
It was also stated that large harvest volumes are projected to come in by mid-March, while a increase in milling activity is expected by April.
In line with these developments, DA consulted importers on appropriate rice imports volumes for February.
The goal is to stabilize retail prices, while ensuring farmgate prices remain protected as the main harvest approaches.
The traders then assured the DA that in spite of imports, they will continue to buy palay at PHP17 for wet and PHP21 for dry, with Secretary Tiu Laurel emphasizing: “Farmer prices are non-negotiable. Whatever import volume we agree on, farmers must be protected.”
He also reiterated that the NFA will not compete with private traders, provided that buying price remain at or above agreed minimum levels and noted that rice tariffs will not be raised until February.
Meanwhile, the DA indicated that an initial import volume of about 300,000 MT is being considered for February, subject to further to continuing review based on market developments.
Importers may also begin applying for sanitary and phytosanitary import clearances, with shipments said to arrive by early February.
