Skip to content

Philippines Today

home of the Global Filipino

Menu
  • News Stories
  • Regional News
  • Business & Economy
  • Science & Technology
  • International
Menu

Rice supply shortage averted

Posted on March 21, 2008

PHILIPPINE NEWS SERVICE — PRESIDENT Arroyo yesterday said the price of rice could go up slightly as result of a growing demand for the staple grain from Middle East and African nations.

Speaking at the inauguration of her flagship expressway, Mrs. Arroyo vowed to ensure a steady supply of the grain following the move of the National Food Authority to bring in 335,500 metric tons of rice.

“There were fears of a possible rice shortage in the world and thus also a possible rice shortage here. The price [of rice] could go up slightly but there would be no shortage,” President Arroyo said.

Rising demand for rice from Middle East and African nations sent the world price of the commodity rising by 50 percent from last month’s price level.

Mrs. Arroyo ordered the National Food Authority to “put its house in order” and prosecute officials who connive with rice traders to divert cheap NFA rice—meant for poor consumers—to the commercial market.

The forthcoming rice shipment, which brings total import so far to 1.2 million tons, will cost the agency P9.976 billion, Administrator Jessup Navarro said.

Vietnamese traders will supply 185,000 tons while other Asian traders will supply the rest, Navarro said.

The food agency will also bring in another 300,000 tons of rice next month under a program allowing farmers to import the staple grain.

Total rice imports this year may reach 2.1 million tons, according to the target set by the Department of Agriculture.

Trade and Industry Secretary Peter Favila said his department will monitor the price movement of rice and other essential commodities in the local market.

Earlier, Agriculture Secretary Arthur Yap said there is no cause for concern over reports of rice shortage in the country.

Yap said the government has secured a commitment from the government of Vietnam for the supply of rice.

Yap expressed confidence that the 2008 rice production could meet the target of 17.33 million MT, equivalent to a 92-percent national sufficiency level.

Palay planting schedules were on track while rains brought on by the La Niña phenomenon would benefit farmers in over a million hectares of land, Yap said.

Share this:

  • Facebook
  • Twitter
  • LinkedIn
  • Pinterest
  • More
  • Tumblr
  • Reddit

Related

News Categories

  • Announcement (34)
  • Business & Economy (1,567)
  • Comment and Opinion (74)
    • Random Thoughts (18)
  • Current Issues (425)
    • Charter Change (1)
    • Election (228)
    • Population (6)
  • International (389)
  • Life In Japan (66)
    • Everything Japan (41)
  • Literary (34)
  • Miscellaneous (610)
  • News Stories (5,312)
  • OFW Corner (297)
  • Others (75)
  • People (408)
  • Press Releases (163)
  • Regional News (3,362)
  • Science and Technology (502)
  • Sports & Entertainment (287)

Latest News

  • BSP keeps policy rates anew December 17, 2015
  • NEDA cuts PHL additional rice import for 2016 by 25% December 17, 2015
  • DA cites serious implications of banning genetically modified products December 17, 2015
  • BBL is not yet dead – Drilon December 17, 2015
  • Comelec recognizes Duterte’s CoC for president December 17, 2015
  • NEDA chief sees 2015 growth at 6% despite typhoons December 17, 2015
  • House of Representatives ratifies bicam report on P3.002-T national budget for 2016 December 17, 2015
  • Cebu-based developer invests PHP430M to build 709 townhouse units in north Cebu town December 17, 2015
  • City gov’t eyes P75-M income from economic enterprise December 17, 2015
  • Baguio City LGU presents traffic plan for holiday season December 17, 2015

Archives

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Science and Technology

  • DOST-ICTO targets 500,000 web-based workers from countryside by 2016
  • (Feature) STARBOOKS: A ‘makeover’ for librarians
  • Science, research reduce ‘cocolisap’ hotspot areas in PHL
  • Montejo to further improve PAGASA and empower scientists
  • 1st PPP in biomedical research produces knee replacement system fit for Asians

Press Releases

  • Microsoft to buy Nokia’s mobile devices business for 5.44-B euros
  • New World Bank climate change report should spur SEA and world leaders into action: Greenpeace
  • Save the Philippine Seas before it’s too late — Greenpeace
  • Palanca Awards’ last call for entries
  • Philippines joins the global call for Arctic protection

Comment and Opinion

  • Remembering the dead is a celebration of life
  • Killer earthquake unlikely to hit Panay Island in near future – analyst
  • It’s not just more fun to invest in the Philippines, it is also profitable, says President Aquino
  • How does one differentiate a tamaraw from a carabao?
  • Fun is not just about the place, it is also about the people, says DOT chief

OFW Corner

  • Ebola infection risk low in Croatia
  • Death toll rises to 41, over 100 still missing in landslide in India
  • Asbestos use in construction a labor hazard
  • 500,000 OFWs to benefit POEA on-line transactions — Baldoz
  • 25 distressed OFWs return home from Riyadh
©2025 Philippines Today | Design: Newspaperly WordPress Theme